Will MicroStrategy stock suffer from a Bitcoin ETF approval?

MicroStrategy Inc. (NASDAQ: MSTR) has been considered an indirect Bitcoin spot ETF due to its treasury exposure to Bitcoin (BTC). The stock market now wonders if a Bitcoin ETF approval could negatively impact MSTR stock with capital outflow.By December 27, 2023, MicroStrategy held 189,150 BTC in its treasury – worth approximately $8.5 billion. Interestingly, MicroStrategy Bitcoin holdings already surpass MSTR’s$7.9 billion market cap on January 10.Notably, MSTR shares slightly outperformed BTC in 2023 whil ...