Bitcoin Headed to All-Time High – MicroStrategy Stock Hits $234 and $BTC ETFs Could Hit 1M

• MicroStrategy's stock recently reached $234, outperforming Microsoftand most Fortune 500 companies. A recent shareholder proposal estimates this is thanks to the company's Bitcoin holdings.
• Bitcoin ETFs are almost at 1M $BTC, with the last two weeks registering $3B in inflows. Experts are saying ETFS can reach the 1M $BTC milestone this week.
• November's US election, Russia's removal of the $BTC mining ban, and a potential Fed interest rate cut could fuel one of the largest post-halving Bitcoin pumps in history.

Michael Saylor's MicroStrategy is once again in the news, this time with an ATH stock price of $234.

Bitcoin ETFs are also nearing 1M $BTCas the last two weeks alone registered $3B inflows.

This dual stunner news could be just what Bitcoin needs to shoot through its previous ATH of $73K. The coin recently passed $68K, and it doesn't seem to be slowing down.

The US elections, Russia lifting the Bitcoin mining ban, and the Fed potentially lowering interest rates will all take place in November. This could create one of the strongest crypto tailwinds in history.MicroStrategy Keeps Buying $BTC as Its Stock Hits New Highs

MicroStrategy is the biggest corporate Bitcoin holder in the world. As of September 2024, the company owns 252,220 $BTC ($17B), and it keeps buying.

According to Scott Melker (crypto investor and author), MicroStrategy has also outperformed all companies in the S&P 500 over the past five years.'

Its stock ($MSTR) is currently $234, an 85.15% increase in the last year and a 271% year-to-date increase.

In a recent shareholders proposal, MicroStrategy underlines that$MSTR has outperformed Microsoft stock by 313% this year.

They attribute this achievement primarily to the large Bitcoin holding, similar to BlackRock, Microsoft's second-largest shareholder.

$MSTR's next target is $245, according to Mark Palmer and other stock analysts. It's far from an impossible task for a company with a 17.8% yield since adopting Bitcoin.

ETF Issuers Hold 976,839 $BTC; Hitting 1M Could Be a Rush

US ETF issuers currently hold 976,892 $BTC (over $66.2B),almost 5% of Bitcoin's total market cap.

Reaching 1M is 23,107 $BTC and $1.55B away.

If it happens this week, we need to see $301M daily net inflows.

This should be easy, as Bitcoin ETFs received $3B inflows in the past two weeks alone.

Nate Geraci, co-founder of the ETF Institute, posted a chart of spot Bitcoin ETFs since inception. And the increase in holdings speaks for itself.

From a zero-dollar industry in January 2024, $BTC ETFs pushed past 600K $BTC in February, nearing 1M $BTC today.

Remember, it hasn't even been a year since $BTC ETFs appeared. And we're already talking about nearly $67B in total holdings.

That's equal to $8.37B per month.

If we also consider theexcellent timing (Russia lifting the Bitcoin mining ban, the Fed potentially cutting interest rates again, and the upcoming US elections), a Bitcoin bull rush might be coming.

We know the Bitcoin halving typically leads to a price surge after several months. But we've rarely had such great tailwinds accompanying a halving before.

Hendrik Andersson (Apollo Capital's chief investment officer) said a Donald Trump victory would be the biggest deciding factor' of a crypto market rally.

If he does win, we believe the resulting momentum in risk assets could drive BTC to reach $100,000 by the end of the year. If that were to happen, Bitcoin would have set a decisive new ATH and make big headlines around the world.Hendrik Andersson, Apollo Capital's Chief Investment Officer

Bitcoin is currently $68.1K, a 1.64% increase in the last 24 hours. Its 24-hour volume also pumped by 41.62%, reaching $21.55B.

Are We Staring Down the Barrel of a Super Bitcoin Pump?

It's not every day we say this, but Bitcoin might have one of the best periods in its history. Many puzzle pieces need to fall in place, but the foundation is there.

MicroStrategy's stock price reaching an ATH, $BTC ETFs nearing 1M $BTC, and all the November action should bereasons enough for an epic pump, perhaps one to $172K.

We'll have to wait and see what the next two months bring us.

ReferencesClick to expand and view references

• Scott Melker X Post About MicroStrategy's Stock Performance (X)
• MicroStrategy Stock Price (Yahoo Finance)
• MicroStrategy Stock Hits All-Time High As Bitcoin Blazes Past $67,000 (NewsBTC)
• Alessandro Ottaviani X Post About $BTC ETFs (X)
• Nate Geraci X Post About $BTC ETFs (X)
• Bitcoin ETFs could soon cross 1M BTC as traders expect November tailwinds (Cointelegraph)
• Bitcoin Price Performance (CoinMarketCap)

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