MicroStrategy’s Stock to Increase by 49% with Groundbreaking Bitcoin Strategy
MicroStrategy’s stock is on the rise, thanks to its innovative bitcoin strategy, according to analysts at Bernstein. The company’s unique approach to investing in bitcoin has already paid off, with shares up 533% year-to-date.
MicroStrategy currently holds 1.8% of the total bitcoin supply and has plans to increase its holdings in the future. Analysts at Bernstein project that by 2033, the company could own a staggering $830 billion, or 4% of the total bitcoin supply. This strategy has positioned MicroStrategy as a “Bitcoin magnet” for institutional investors.
Analyst Gautam Chhugani has raised the price target for MicroStrategy stock to $600, representing a potential upside of 49% from current levels. Chhugani believes that MicroStrategy’s approach to investing in bitcoin is truly unprecedented on Wall Street.
Led by founder and chairman Michael Saylor, MicroStrategy currently owns 386,700 bitcoins, making up a significant portion of the total bitcoin supply. As the company continues to raise capital to invest in bitcoin at attractive deal terms, Bernstein projects that MicroStrategy could own even more of the total supply by 2033.
With this bullish outlook on MicroStrategy’s bitcoin strategy, investors are keeping a close eye on the company as it continues to defy gravity with its stock performance.
