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MicroStrategy Inc. (NASDAQ:MSTR) continues its upward sprint, reaching a 52-week high of $236.29 during Thursday trading, with investors rallying behind the stock.
The stock's meteoric rise—up 55% in the past month and 244% year-to-date—signals renewed investor confidence in the company's strategic mix of Bitcoin (CRYPTO: BTC) investments and AI-powered software advancements. Over the past year, MicroStrategy has soared an incredible 444%, and many are betting that this momentum will keep going.
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A significant driver of the optimism comes from BlackRock Inc (NYSE:BLK), which recently expanded its stake to 5.2% in MicroStrategy, effectively placing a larger bet on the company's unique positioning as a gateway for institutional investors to gain Bitcoin exposure.
With Bernstein analysts projecting Bitcoin could reach $200,000 by the end 2025, it seems BlackRock is bullish on the long-term outlook for both crypto and MicroStrategy.
However, not everyone is celebrating. Noted Bitcoin critic Peter Schiff has made headlines again, calling MSTR "the most overvalued stock in the MSCI World Index." Schiff warns that when the stock eventually crashes, it'll be a "real bloodbath."
Known for advocating gold over Bitcoin, Schiff has long argued that crypto lacks the intrinsic value needed to sustain its current valuations. His sharp criticism adds a dose of skepticism to an otherwise optimistic narrative.
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On the technical front, all signs point to further upside for MicroStrategy stock.
Chart created using Benzinga Pro
The stock is currently trading well above its eight-, 20-, and 50-day simple moving averages, reflecting strong buying pressure and a bullish trend that shows no signs of weakening.