Microstrategy Stock MSTR to go high as Bitcoin Halving looms

by

MicroStrategy (MSTR) aims to reach greater peaks as the upcoming Bitcoin halving approaches, with analysts at Benchmark predicting a substantial increase in the stock due to the possible price hike of Bitcoin resulting from this occurrence.

Around April 20th, the Bitcoin supply will be reduced by half during the halving event, a historical occurrence that has typically triggered significant price increases. According to analyst Mark Palmer, previous halvings in 2012, 2016, and 2020 have been preceded by notable rises in Bitcoin’s value.

Benchmark is not only bullish about MicroStrategy but also demonstrates confidence in their forecast by significantly increasing their price estimate for the company’s stock. They believe Bitcoin will reach an astonishing $150,000 by 2025, leading to this ambitious target of $1,875 for MicroStrategy.

MicroStrategy’s distinctive approach, focusing on purchasing and keeping Bitcoin, makes them ideally situated to reap significant profits during price increases. According to Benchmark, they will likely carry on acquiring Bitcoin with funds from the markets and their software business.

MicroStrategy’s Bitcoin holdings are projected to grow to approximately 298,246 bits by the end of 2025, significantly more than the reported 214,246 in March 2024. The company plans to continue amassing Bitcoin through its software business profits and capital market initiatives.

MicroStrategy’s stock seems poised for growth as the value of Bitcoin climbs and the company adopts a thoughtful strategy towards cryptocurrency. Thus, MSTR becomes an intriguing choice for investors aiming to capitalize on the Bitcoin trend.

Read More

2024-04-08 16:36