New Trade for July 27th, 2023

Despite a brutal bear market for digital assets spanning the entirety of 2022, digital currencies have found renewed vigor this year, leaving other major assets in the dust.  In the first half of 2023 the top traded digital asset surged by over 80% against the U.S. dollar – and this could be just the beginning.  

The stage is being set for a major upcoming event that could send digital currencies to new highs. Investors on the right side of the tracks, when this event unfolds, could see exponential gains. Today’s trade alert focuses on a unique investment strategy that’s gaining popularity among institutional investors ahead of this game-changing event.

Microstrategy (MSTR)

Bitcoin is up 76% since the start of the year and it may be just getting started as the highly anticipated 2024 “bitcoin halving” draws near.  Cloud based service provider, Microstrategy, has been gaining attention from institutional investors who cannot invest directly in cryptocurrencies.  

The bitcoin halving, which occurs every four years, reduces rewards for successfully mining new bitcoin by 50%. The aim is to reduce the supply of Bitcoin over time.  Before the last halving, on May 11, 2020, the price of Bitcoin increased by 19% from the same day a year earlier.  Bitcoin’s price reached record highs after each of the last three halvings; its price has tended to bottom out and start to rally 15 months prior to each halving.  The next halving event is slated for April 2024.  

With a correlation of 0.90 to the crypto asset, mid-cap Microstrategy offers the most attractive means through which equity investors can take advantage of the event.

[stock_market_widget type=”accordion” template=”extended” color=”#5679FF” assets=”MSTR” start_expanded=”true” display_currency_symbol=”true” api=”yf”]





NEXT:



Get Free Stock Picks via SMS by Signing Up Below!


I would like to receive timely trade ideas and stock watchlists from Wall Street Watchdogs at the phone number provided. Message frequency varies. Message and data rates may apply. Reply HELP for help or STOP to cancel.(Watchdogs SMS Terms of Service & Privacy Policy)