MicroStrategy Stock Hits Highest Close Since 2000 Amid 166% Bitcoin Premium, ETF Options Concerns

MicroStrategy's (MSTR) stock has been on a significant upward trajectory, reaching its highest close since March 2000. The stock has shown a strong momentum, with a premium over its Bitcoin holdings extending to 166% as of last Friday's close.

Analysts from Steno Research suggest that this premium is unsustainable, especially with the upcoming launch of spot Bitcoin ETF options in the U.S. Michael Saylor, MicroStrategy's CEO, envisions transforming the company into a 'Bitcoin bank,' which would offer a variety of Bitcoin-related financial services. Despite the optimistic technical analysis showing potential further growth, the sustainability of the premium remains a concern. The 10-for-1 stock split contributed to the premium surge.

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