MicroStrategy Stock Hits Record High As Bitcoin Holds Steady, Defying Schiff’s ‘Bloodbath’ Predictions: Retail Optimism Strengthens

Shares of MicroStrategy ($MSTR) surged over 7% to hit a new all-time high of $229.55 in early trading on Thursday. 

This increase comes as Bitcoin ($BTC.X) stabilizes and goes against recent warnings from economist Peter Schiff, who labeled MicroStrategy as the “most overvalued” stock on the MSCI World Index.

Bitcoin's value had dipped earlier this week after the cryptocurrency struggled to break past the $70,000 threshold on Sunday. The token gained 1.7% and was trading at $67,818 as of 10:50 a.m. ET.

The rally in MicroStrategy’s stock comes just after Schiff warned investors that MicroStrategy is overvalued because of the company’s Bitcoin holdings. 

Currently, MicroStrategy holds 252,220 Bitcoin with an estimated value of $17.1 billion on Thursday as the biggest corporate holder of the digital asset.

“When it finally crashes, that's going to be the real bloodbath,” Schiff said in a post on X on Monday.

Retail sentiment on Stocktwits has strengthened into the ‘bullish’ zone (64/100) from ‘neutral’ territory a day ago.

Options traders are betting on Bitcoin hitting a record high of $80,000 in November 2024 regardless of the outcome of the upcoming election, according to a Bloomberg report. 

Wealth management firm Bernstein forecasts that Bitcoin could potentially reach $200,000 by the end of 2025. 

MicroStrategy’s stock has more than tripled with gains of 232% so far in 2024, outperforming even Bitcoin’s surge. 

For updates and corrections email newsroom@stocktwits.com.

Read more: Rivian, Lucid, Luminar And Other EV Stocks Rally After Telsa’s Blowout Earnings: Retail Sentiment Mixed

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