Posted 12/26/2023, 6:26:37 PM
MicroStrategy Stock Soars Thanks to Big Bitcoin Bet, Analysts See More Upside
- MicroStrategy (MSTR) bought heavily into Bitcoin (BTC-USD) which delivered impressive returns, causing its share price to move with Bitcoin price
- MSTR stock gained around 337% in 2022, beating nearly every other $5B+ company in the US
- MSTR was seen as a way to invest in Bitcoin without paying for actual coins
- MSTR doesn't see Bitcoin ETFs as a major threat since they charge fees and are unlevered, while MSTR has diversification
- Analysts have a Strong Buy rating on MSTR with an average price target implying 9.73% upside potential