Posted 2/27/2024, 11:35:00 PM
MicroStrategy Stock Upgraded on Bitcoin Potential, Analyst Sees BTC Holdings Doubling by 2025
- MicroStrategy's stock deemed a 'buy' by Benchmark analyst with $990 price target, bitcoin's halving seen as a catalyst
- Company holds about 193,000 bitcoins currently, bitcoin makes up bulk of MicroStrategy's valuation
- Previous bitcoin halvings associated with crypto bull runs; other catalysts seen ahead like spot BTC ETF launches
- MicroStrategy can buy more bitcoin with debt, equity, and cash flow from software business
- Analyst sees MicroStrategy holding 200,000 bitcoins by end of 2025, bitcoin potentially hitting $125k in price