Market Close Update: MSTR Long Play

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MSTR had a strong bounce off the $300 Price Levels of Support in it's last trading session, with it contiinuing to push higher going into the Pre-Market Session/Intraday Session, gaining another 29.24/share by Market Close at $379.09. A total of $33+ at it's Intraday High. $378.40 was a previous Level of Support so really interested to see how it reacts to those levels going into to Tomorrow's Market Open. Looking to see if that previous support turns into resistance, providing another opportunity to buy-in on a potential buy-in around the $349.99 Levels. With Bitcoin is back above 100K, sitting at $102,054 but potentially retesting 100K again, could also encourage another opportunity to get in on MSTR. Buy Limit set with a Stop Loss of $347.38 on this trade and a Price Target of $415.68.

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Financial News Today:

MicroStrategy on Monday announced the acquisition of 1,070 BTC for $101 million at an average price of $94,004 per Bitcoin.

This brings its total holdings to 447,470 Bitcoin acquired for ~$27.97 billion at ~$62,503 per Bitcoin.

The volume of the company’s recent purchases has tapered: while MicroStrategy on Dec. 9 announced having purchased 21,550 Bitcoin, the volume steadily declined each week to 2,138 Bitcoin on Dec. 30 and 1,070 Bitcoin on Monday.

MicroStrategy has plans to raise up to $2 billion through preferred stock offerings in the first quarter of 2025.

This capital will fund additional Bitcoin purchases as part of its “21/21 Plan,” which outlines a strategy to secure $21 billion in equity and $21 billion in fixed-income instruments over the next three years.