Bitcoin ETF Buzz Gives MSTR a Boost

VanEck is making another attempt at getting a bitcoin ETF approved by the SEC

Digital Content Manager
Dec 31, 2020 at 9:04 AM
facebook X logo linkedin

MicroStrategy Incorporated (NASDAQ:MSTR) is making headlines this morning, as VanEck once again attempts to get a bitcoin exchange-traded fund (ETF) approved by the U.S. Securities and Exchange Commission. VanEck's last attempt was in September 2019. This push for a bitcoin ETF comes amid a big shakeup for the SEC, with Chairman Jay Clayton retiring last week, and investment management chief Dalia Blass -- a critic of the cryptocurrency -- leaving next month. MicroStrategy, which has been considered a synthetic bitcoin ETF after investing over $1 billion in the currency, is getting a boost on the news -- up 1.2% at $394.50 at last check. 

Today's pop has the software concern pacing for a fresh all-time closing high, marking the equity's third this week. In fact, for the past couple weeks MSTR has been in rally mode --thanks to support at the 20-day moving average -- quickly closing an early December bear gap to finish the year with an over 173% lead for 2020. 

Despite the recent run up the charts, short sellers have been circling MicroStrategy stock in droves. Short interest shot up 264.3% during the last two reporting periods, and now the 1.03 million shares sold short make up a solid 14.2% of the stock's available float, or a little under three days of  pent-up buying power. Should MSTR continue its climb higher, an unwinding of some of this pessimism could create even more tailwinds for the equity. 


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI