Strategy Inc. (NASDAQ:MSTR) shares declined on Thursday as investors took profits after a 7.54% surge the previous day. The pullback came despite a broader rally in crypto-linked equities on Wednesday, driven by Bitcoin's (CRYPTO:BTC) rise. However, Bitcoin dropped 2.86%, or $2,401.19, over the last 24 hours to trade at $81,642, weighing on related stocks. Nasdaq futures fell 1.55%, while S&P 500 futures lost 0.90%.
JAN3 CEO Samson Mow remains optimistic about Bitcoin's long-term prospects, citing fading selling pressure and corporate treasury demand. He noted that Bitcoin's movements are driven by supply and demand rather than traditional cycles. Mow also highlighted that Bitcoin reached an all-time high before the 2024 halving and that companies like Strategy are “massively undervalued.”
Strategy Executive Chairman Michael Saylor predicted Bitcoin could return to $100,000 within 12 months. He cited catalysts such as digital credit issuance, BTC-backed bank lending, and tokenized securities. Despite near-term volatility, Saylor's outlook suggests strong confidence in Bitcoin's growth potential.
Technically, MSTR is holding a constructive longer-term setup but faces near-term pressure. The stock is trading 5.3% below its 20-day SMA ($153.11) but remains above its 50-day SMA ($137.70) and 200-day SMA ($135.40). The RSI stands at 54.96, indicating consolidation rather than a strong trend. Key resistance is at $170, while support lies at $123.50. During premarket trading on Thursday, MSTR shares were down 5.39% at $145.20.