Bitcoin 
$68,187 It is noteworthy that the shares of the US software company MicroStrategy, known for its investments, are traded approximately 300 percent above the BTC assets it holds. According to Steno Research, this premium rate is not sustainable in the long term. The company’s recent stock split and options expected to be offered on spot Bitcoin ETFs in the US MicroStrategy may weaken demand for its shares.
Stock Split Impact Reduces, Demand May Fall
Steno Research analyst Mads EberhardtHe noted that the effects of MicroStrategy’s recent 10-1 stock split have faded. Considering that the company’s share premium remained below 200 percent even during the bull market in 2021, it is emphasized that the current 300 percent premium rate deviates greatly from the company’s assets and core business indicators.
Despite the increase after the stock split, this premium is considered to be unsustainable.
ETFs Could Be an Alternative to MicroStrategy Shares
Recently in the USA spot Bitcoin ETFThe launch of options on ‘s may lead investors to go directly to ETFs or BTC instead of MicroStrategy. According to Steno Research’s report, as institutional interest in Bitcoin increases, investors may choose to invest directly in cryptocurrencies. Additionally, a positive change in the regulatory stance towards Bitcoin in the US may support investors in choosing spot Bitcoin ETFs instead of MicroStrategy.
Although the company’s shares have achieved a high premium rate since 2021, analysts say that this premium BTCHe emphasizes that it is not sustainable in the face of the strong performance expected next year.
According to current data, Bitcoin is traded at $68,714 with a 2.37 percent increase in the last 24 hours, while MicroStrategy’s shares MSTR It is getting ready to start the new trading week at $234.34.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
