Analyst predicts 35% upside for Saylor's Strategy

Last week, Michael Saylor-led Strategy (Nasdaq: MSTR) bought Bitcoin (BTC) for the first time since late August.

The company purchased 950 BTC for approximately $75.7 million during Sept. 14-20. The total stack of 846,000 coins cost it roughly $63.8 billion.

Related: 2011 Bitcoin wallet wakes up holding millions

Strategy sitting on $9B unrealized profit on Bitcoin holdings

When Bitcoin's price fell below $60,000 in late June, Strategy was sitting on an unrealized loss of around $13 billion on its record BTC holdings of 847,363 coins back then.

With Bitcoin currently trading above $86,000, the company is now sitting on an unrealized gain of approximately $9 billion.

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Donald Dean sees Strategy stock hitting $225.22

In line with Bitcoin's surge yesterday, the Strategy stock also climbed 9% to close at $168.50 on Sep. 21.

The same day, market analyst Donald Dean shared an analysis of the MSTR stock using Fibonacci retracement levels. These levels are used to find potential support and resistance areas by measuring how much a stock's price retreats before continuing in its trend.

As per Dean, the MSTR stock is testing resistance at the 23.6% Fibonacci level of $170.41 right now.