MicroStrategy / Bitcoin Market Cap Ratio

1월 14일

This indicator offers a unique analytical perspective by comparing the market capitalization of MicroStrategy (MSTR) with that of Bitcoin (BTC). Designed for investors and analysts interested in the correlation between MicroStrategy's financial performance and the Bitcoin market, the script calculates and visualizes the ratio of MSTR's market capitalization to Bitcoin's market capitalization.

Key Features:

Start Date: The script considers data starting from July 28, 2020, aligning with MicroStrategy's initial announcement to invest in Bitcoin.

Data Sources: It retrieves real-time data for MSTR's total shares outstanding, MSTR's stock price, and BTC's market capitalization.

Market Cap Calculations: The script calculates MicroStrategy's market cap by multiplying its stock price with the total shares outstanding. It then forms a ratio of MSTR's market cap to BTC's market cap.

Bollinger Bands: To add a layer of analysis, the script includes Bollinger Bands around the ratio, with customizable parameters for length and multiplier. These bands can help identify overbought or oversold conditions in the relationship between MSTR's and BTC's market values.

The indicator plots the MSTR/BTC market cap ratio and the Bollinger Bands, providing a clear visual representation of the relationship between these two market values over time.

This indicator is ideal for users who are tracking the impact of Bitcoin's market movements on MicroStrategy's valuation or vice versa. It provides a novel way to visualize and analyze the interconnectedness of a leading cryptocurrency asset and a major corporate investor in the space.