MicroStrategy's aggressive Bitcoin acquisition strategy has led analysts at Bernstein to raise their price target for the company's stock to $600. Bernstein projects that MicroStrategy could own 4% of the global Bitcoin supply within the next decade. This forecast is based on the company's ongoing capital-raising initiatives aimed at purchasing additional Bitcoin.
As of November 25, 2024, MicroStrategy holds approximately 386,700 Bitcoins, at an average price of about $56,761 per coin. The company's strategic focus on Bitcoin has significantly increased its stock value, with shares rising nearly 24% last week.
Bernstein's analysis suggests that MicroStrategy's unique approach to Bitcoin investment positions it favorably for substantial growth, potentially leading to a stock price of $600.
