Shares in Strategy Incorporated (MSTR) stock are down over 14% in the last 30 days following a rough month for Bitcoin (BTC). With Michael Saylor’s software company so heavily invested in the king cryptocurrency, the assets’ 7.5% dip in the past month hasn’t boded well for MSTR shares. Further, numerous price forecasts as of late for Bitcoin have come in bearish, which could be a tough test for Strategy stock in the coming quarter.
Despite BTC hitting a new ATH earlier this month, the coin has hit strong resistance and is now trading back below $109,000. MSTR stock, meanwhile, is down from its $400 ATH levels from earlier this month. The drops have prompted forecasts of further decline for both entities. On the other hand, one bullish projection from a representative of Ripple Labs (XRP). Indeed, John Deaton, the popular pro-XRP lawyer, shared his latest crypto prediction on X on August 24. The lawyer suggests Bitcoin will reach the price range of $180,000-$250,000 the next year, which will cause the MSTR stock to rally.
“I can predict something in the future, related to Strategy, with almost certainty. I believe Bitcoin will increase to $180K-$250K in the next year. That will cause Strategy stock to (rocket),” Deaton wrote in a post to X.
He went on to forecast: “today, the stock’s at $358 and will likely exceed $500 a share during Bitcoin’s run. Michael Saylor will be heralded as a financial genius. At some point, thereafter, Bitcoin will crash 30-40% and $MSTR will crash even harder. Some will call Saylor reckless, and people will speculate that Saylor will be forced to sell. In fact, some people will claim the bottom will be Saylor being liquidated. Does this sound familiar? Yes, I’ve been here since 2017.”
Earlier this month, Strategy (MSTR)’s unrealized BTC profit hit $30B, a huge milestone for the company and for BTC. It also gave the MSTR stock a slight boost. Tom Lee, Fundstrat’s CEO and notable BTC expert, has made a new positive prediction for Strategy. Lee believes strategy is on the brink of a massive transformation, one that may revolutionize its path for the better. Lee shared how projections of Bitcoin hitting $1M are already on the cards. If this scenario comes true, then that would strategically put “Strategy” ahead of major stock market pioneers. This development will make Strategy one of the biggest value companies on earth, defeating stock market giants in the process.
