Benchmark, an investment banking firm, has raised its price target for MicroStrategy's stock from $215 to $245. The firm argues that the value of MicroStrategy's bitcoin holdings and its software business will continue to increase. Analyst Mark Palmer believes that the company's high stock price is justified because it offers more value than just holding bitcoin. Some traders have criticized the stock's high price compared to its bitcoin holdings, but Benchmark believes the company's business model justifies the premium. MicroStrategy's Bitcoin Yield, which measures the effectiveness of its bitcoin investments, stood at 17.8% through September 19, according to Benchmark's data.



Other News from Today