MicroStrategy Analyst Projects 64% Upside To Stock Based On Bitcoin Acquisition Strategy
Bernstein analysts have set a $290 price target for MicroStrategy‘s (NASDAQ:MSTR) stock, representing a potential 64% surge, based on the company’s aggressive Bitcoin acquisition strategy, according to a new report.
What Happened: MicroStrategy, led by Executive Chairman Michael Saylor, has amassed a substantial Bitcoin (CRYPTO: BTC) holding worth approximately $16 billion, making it one of the top 10 holders of the cryptocurrency.
Bernstein analysts Gautam Chhugani, Mahika Sapra and Sanskar Chindalia praised Saylor’s approach, stating, “Michael Saylor pioneered a Bitcoin treasury model for corporates,” DL News reported on Monday.
The analysts’ optimistic outlook is rooted in the assumption that Bitcoin will reach $1 million by 2033 and that MicroStrategy will continue its cryptocurrency purchases. This …
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