With Bitcoin quickly nearing $31,000, stocks like MicroStrategy (MSTR) are exploding.
All in hopes a Bitcoin ETF will finally be approved.
Helping, according to Bitcoin.com:
“Steven Schoenfeld, former head of International Equity Product Strategy at Barclays Global Investors (now Blackrock), expects the U.S. Securities and Exchange Commission (SEC) to approve all spot bitcoin exchange-traded fund (ETF) applications in three to six months. He also anticipates that the greenlighting of spot bitcoin and Ethereum ETFs has the potential to inject between $150 billion and $200 billion of capital into these investment products.”
MSTR last traded at $362.45 – up $14.41 on the day—and could push higher after breaking above its 50-day moving average. It’s also now above triple-top resistance. And if it can break above resistance around $388, it could potentially push back to $400.