As the positive sentiment spreads towards US stock markets, this analysis explores 3 crypto-related firms that could hitch-hike on the BTC rally.
3 Crypto Stocks to Watch in the Week Ahead
Recent cabinet nominations and proposed crypto-friendly policy shifts have deepened investor confidence, amplifying bullish momentum not only in the cryptocurrency markets but also in the U.S. stock market.
Based on recent market reports, MicroStrategy (MSTR), Rumble Inc. (RUM), and Bitdeer (BTDR) are three crypto-related stocks poised to deliver major gains if Bitcoin advances toward the $120,000 mark before Trump’s inauguration, slated for January 20, 2025.
1. MicroStrategy (MSTR) Set to Reclaim $400 Despite Citron Research Shorts
MicroStrategy (MSTR) has long been one of the most prominent Bitcoin-linked stocks, driven by the company’s aggressive Bitcoin acquisition strategy under Executive Chairman Michael Saylor. MicroStrategy has been buying Bitcoin weekly since Trump’s re-election, with the strategy gaining renewed attention after the cryptocurrency’s parabolic rise.
However, the rally initially faced a setback when Citron Research announced a significant short position in MSTR on November 21, citing valuation concerns. The announcement caused a temporary dip in the stock price, pulling it down by 18% in the days following the news.
Despite these bearish headwinds, MicroStrategy has regained its footing. On December 2, Michael Saylor announced another purchase of 15,000 BTC, underscoring his confidence in Bitcoin’s long-term potential. The company is reportedly raising additional funds for further purchases, signaling a commitment to its bold Bitcoin accumulation strategy.
