MicroStrategy set for gains; ‘don’t fear the premium,’ analyst says
Benchmark analyst Mark Palmer has raised his price target for MSTR stock to $245 per share from $215.
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Benchmark analyst Mark Palmer has raised his price target for MSTR stock to $245 per share from $215.
The fund touts leveraged exposure to Bitcoin and gold as investors brace for inflation and geopolitical strife.
MicroStrategy is up over 1,500% since 2020, while the S&P 500 index rose just over 111% during the same four-year period.
Crypto exchange Coinbase and Bitcoin miners CleanSpark and IREN closed Oct. 14 with double-digit percentage gains and continued to climb after the bell.
Bitcoin’s monthly close could reverse a 6-month-long downtrend and signal traders’ intent to push BTC price to new highs.
Cryptocurrency ETFs saw inflows exceeding $20 billion in 2024, according to Morningstar.
The ETFs add leverage to Microstrategy’s already levered-up Bitcoin strategy. Investors can’t seem to get enough.
Inclusion could boost the industry. “Anyone that owns an S&P 500 Index fund will own Bitcoin once MSTR makes it into the index.”
The proliferation of institutional Bitcoin custodians creates opportunities for MicroStrategy, according to a Benchmark analyst.
Stablecoin issuer Circle is moving forward with its public offering debut and plans to shift its headquarters to Wall Street in 2025.
