MicroStrategy's Saylor Invited to Bitcoin Arena as MSTR Aims for All-Time High

U.Today - Michael Saylor, CEO of MicroStrategy and entrepreneur known for his deep admiration for Bitcoin , issued a new post regarding the major cryptocurrency. Saylor, with his unconventional approach to social media, issues a post about Bitcoin every day, and sometimes they amuse or confuse, but the message is always the same - bullish on BTC.

This time, the business man, using artificial intelligence, projected himself into a gladiatorial arena in a suit of armor with the Bitcoin logo and captioned it with the message "Step into the Arena." One may translate it as Saylor's invitation to the general public to join Bitcoin in the fight against inflation and for financial freedom.

Interestingly, all of this is happening while MicroStrategy's (MSTR) stock is tearing up the price chart on its way to a new all-time high. Trading at $194.63 per share, MSTR has managed to break out of the multi-month consolidation that began in March of this year. MicroStrategy stock is up 13.91% since the beginning of October.

24 years laterThe only visible ceiling for MSTR right now seems to be the $200 high that was set over six months ago.

If, or rather when, it is breached, the next target for MicroStrategy will be the old all-time high of $333, set almost 24 years ago in March 2020.

The success for MSTR is well known and quite simple, as 252,220 BTC are comfortably sitting in the company's Reserves, and with an average price of about $39,300, it has already made a profit of 59.7%, or about $5.93 billion.

Source: Investing.com