Michael Saylor's Strategy Drops $18B in Value, but a Rebound May Be Near: 10X Research

Why It Matters

A S&P 500 listing would bring massive institutional buying pressure, lifting MSTR’s valuation and signaling broader acceptance of crypto‑exposed equities, which could reshape market dynamics for both the firm and the cryptocurrency sector.

Summary

MicroStrategy (MSTR) has shed about $18 billion in market value and fallen 40% since July as its bitcoin‑linked net‑asset‑value premium collapsed. 10x Research analyst Markus Thielen now expects the company to post a Q3 profit of roughly $3.6 billion from mark‑to‑market gains on its BTC holdings, reviving talk of S&P 500 inclusion. He estimates that inclusion could trigger up to $28 billion of passive and active fund inflows, potentially sparking a rebound in the stock. At current levels, Thielen argues the shares may offer better value than bitcoin itself.