Stock of Bitcoin's Biggest Public Holder is Overvalued by 26%, Analyst Who Predicted BTC Rally Says
Summary
MicroStrategy's shares, which have surged 343% this year, are deemed overvalued by 26% by 10x Research. The conclusion is based on a regression model studying the relationship between MicroStrategy's shares and Bitcoin's spot price. The analysis suggests it's time to take profit. MicroStrategy holds 189,150 BTC and its stock performance is often seen as a proxy for institutional interest in digital assets. The analysis also indicates that several crypto-related stocks are trading close to fair value based on Bitcoin's price. 10x Research advises taking profit and cutting long positions, while suggesting that HIVE, HUT, and GALAXY still offer some value.
