MicroStrategy's stock breaks out of Bitcoin's control

MicroStrategies' stock prices have recently been decoupled from the Bitcoin price, deviating from their historical strong correlation. Although Bitcoin consolidated under the influence of macroeconomic uncertainty in early 2024, MicroStrategies' stock price rose due to company strategy and financial performance. This shift suggests that the company's valuation is increasingly affected by operating factors beyond Bitcoin exposure. Investors are adjusting their portfolios, and some view micro-strategy as a standalone investment rather than a replacement for Bitcoin. Analysts are paying attention to whether this divergence marks a permanent structural change or a temporary abnormality.