6 Explosive Catalysts Bitcoin, MicroStrategy (+45%), and Mining Stocks (+39%). Are You Long?
As Bitcoin rallies back to $70,000...
👇1-15) After months of caution on Bitcoin miners, we highlighted CleanSpark in our October 8 report, and since then, its shares have risen 39%. Similarly, Bitcoin mining stocks like Iris Energy, which we noted last week, have gained 13%. As Bitcoin approaches the $70,000 mark, mining stocks are seeing explosive growth, with a strong likelihood of BTC reaching new all-time highs—reflecting the outlook we’ve consistently shared in our research. In just one trading session on Monday, Bitdeer soared 24%, Iris Energy jumped 18%, Bitfarms rose 13%, Marathon gained 11%, CleanSpark added 10%, and MicroStrategy climbed 9%.
👇2-15) We last favored Bitcoin miners in early June, when our top pick, Bitfarms, rallied 25% in just two weeks. At that point, we advised taking profits and waiting for new opportunities. Attractive risk/reward scenarios only began re-emerging in early October, partly due to a significant $12 billion short interest against listed Bitcoin companies, including MicroStrategy, which is used partly as a hedge on its convertible bonds. However, some investors shorted the stock outright.
MicroStrategy effectively trades at a Bitcoin price of $100,000 per BTC.
👇3-15) We also highlighted MicroStrategy’s breakout potential on October 7, when shares were trading at $177, noting, "Doubling Down on Bitcoin’s October Rally as MicroStrategy Shares Could Break Out." Last night, the shares closed at $255, marking a 45% gain since our report. It's not just the upcoming election—several major catalysts over the next eight weeks could have monumental impacts on MicroStrategy, Bitcoin miners, and Bitcoin itself.