Benchmark has raised its target price for MicroStrategy (MSTR) to $BTC
According to Coindesk, despite MicroStrategy (MSTR) reporting second-quarter revenue that fell short of expectations, Wall Street firm Benchmark has raised its target price for MSTR stock to $2,150 and given it a top rating. (The current stock price is only $1,447) In a research report on Friday, Benchmark analyst Mark Palmer wrote that since adopting BTC as its primary reserve asset in August 2020, MSTR's stock price has risen 1,206%. Since then, the stock's performance has contrasted sharply with BTC, the S&P 500 index, and the Nasdaq index, which have risen 442%, 64%, and 60% respectively. The company reported a net loss of $102.6 million in the second quarter, as it incurred a $180.1 million impairment loss on its BTC holdings. The company currently holds 226,500 BTC, at an average purchase price of $36,821 per BTC.
