CandleFocus MicroStrategy (MSTR) Price Target Raised to $240 by BTIG
2024-10-21
Author: Content Editor
Global investment banking and research services provider, BTIG, has increased its price target for MicroStrategy (MSTR) to $240, citing the near-record peak in the implied Bitcoin premium within MicroStrategy's valuation. Currently, MicroStrategy's market cap is $42.45 billion, with shares trading at $210. The company's shares have increased by nearly 61% in the last six months, while its Bitcoin holdings have a value of $17 billion. BTIG analysts believe the premium is driven by investors seeking exposure to Bitcoin indirectly and those speculating on the future increase in Bitcoin's price. MicroStrategy's co-founder, Michael Saylor, has stated his goal of turning the firm into a "Bitcoin bank" with a valuation exceeding $1 trillion and predicts the price of Bitcoin could reach $13 million in 20 years.
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