MicroStrategy Stock Rises as Bitcoin Holdings Fuel Company Value
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MicroStrategy's Michael Saylor is a bitcoin bull and has been purchasing large amounts of bitcoin throughout 2022 with company funds
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Investors can gain bitcoin exposure by purchasing MicroStrategy (MSTR) stock, which has outperformed bitcoin itself in 2022
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MSTR's relative outperformance is partly due to it offering a "scarcity premium" as a safer equity play for bitcoin exposure
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The majority of MSTR's enterprise value now comes from its bitcoin holdings rather than its software business
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Analyst Joseph Vafi has raised his MSTR price target to $791 based on further upside from its large bitcoin holdings