Is This Mean Reversion in MicroStrategy Stock a Buying Opportunity in the Bitcoin Proxy?

Not long ago, buying Strategy (MSTR) [https://www.barchart.com/quotes/MSTR], the crypto treasury company formerly known as MicroStrategy, was like buying Bitcoin (BTCUSD) [https://www.barchart.com/quotes/^BTCUSD] at a 3x premium. But lately, that premium has been sliding — fast.

During last Friday’s _Market on Close_ livestream, John Rowland, CMT, broke down the numbers [https://youtube.com/shorts/X2rL7Z8Q_cc]:

* HOLDINGS: MicroStrategy owns 638,985 BTC.
* MATH CHECK: At ~$116,917 per coin (price at recording), the treasury value works out to about $261 worth of Bitcoin per share.
* PREMIUM: What used to be 3x BTC’s value is now closer to 1.3x.

WHY IT MATTERS

* MEAN REVERSION: John predicted earlier this year that MicroStrategy’s stock price would eventually converge toward the value of its actual Bitcoin actual holdings. That process is happening now.
* PROXY PLAY: At a 3x premium, MSTR looked stretched. At around 1.3x, it’s starting to look like a reasonable Bitcoin proxy.
* BUYING WINDOW? If you believe in Bitcoin long-term but prefer equities over direct crypto exposure, MicroStrategy is suddenly a much closer match.

www.barchart.com [https://www.barchart.com/stocks/quotes/MSTR/interactive-chart]

TOOLS TO TRACK THIS STORY

* MSTR Interactive Chart [https://www.barchart.com/stocks/quotes/MSTR/interactive-chart] → track RSI, MACD, and moving averages to confirm momentum.
* Crypto Market Overview [https://www.barchart.com/crypto] → watch Bitcoin’s moves alongside other major cryptocurrency.
* Comparison Tool [https://www.barchart.com/education/site-features/comparison-interactive-chart] → set up side-by-side comparisons of BTC vs. MSTR price action.

THE BOTTOM LINE

MicroStrategy isn’t Bitcoin — but at today’s reduced premium, it may finally be a fair proxy. John Rowland thinks it’s closer than ever to being a legitimate way to get BTC exposure through the stock market.

Watch the clip [https://youtube.com/shorts/X2rL7Z8Q_cc] from _Market on Close_ to hear John’s take:

Stream the full episode [https://youtube.com/live/TvtpcO7iwac] for more insights on crypto equities [https://www.barchart.com/investing-ideas/crypto/stocks?viewName=performance] and market movers.

_ On the date of publication, Barchart Insights [https://www.barchart.com/news/authors/456/barchart-insights] did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here [https://www.barchart.com/terms#disclosure]. _