Microstrategy, a renowned business intelligence and IB tool firm stocks are spiking high amid the brewing Bitcoin boom. The firm is known for aggressively stashing Bitcoins and is currently holding $331,200 BTC tokens at present. As Bitcoin continues to scale past new price spots, inching towards $100K, the price of MSTR stocks is also spiking, displaying the harmony of Bitcoin with MSTR stocks in an established corporate regime.
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MicroStrategy Stocks Are Consistently Rising: What’s Happening?
The stocks for Saylor’s Microstrategy are riding high on the radar. MSTR stock is currently sitting at $473 after spiking 9% last night in hopes of Bitcoin hitting the ambitious $100K mark. The firm’s stock is surging at a record pace and may ultimately cross the $500 threshold, which may prove lucrative for the firm in its entirety.
“BREAKING: MicroStrategy stock, $MSTR, surges another 9% in overnight trading as #Bitcoin nears $100,000. The stock is trading at a record high, on track to mark its first daily close above $500.”
The firm was recently in the news for buying 51,780 bitcoins, adding more fuel to the surge. As Bitcoin nears $100K, the market is busy speculating whether this surge will continue and help MSTR stocks claim a new high. Keeping the recent trend and spikes in mind, BTIG has already raised the firm’s stock price target from $290 to $570, issuing a “buy” call for the investors to explore.
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In addition to this, Saylor will also be delivering a three-minute presentation to Microsoft, trying to compel the Windows giant to consider Bitcoin as one of the revenue channels worth exploring.
Given high demand, we upsized our $MSTR offering of 0% convertible bonds due 2029 from $1.75 billion to $2.6 billion, including a $400 million greenshoe option, and priced it at a 55% conversion premium.
— Michael Saylor
(@saylor) November 20, 2024
“The activist that put that proposal together contacted me to present to the board, and I agreed to provide a 3-minute presentation,” Saylor said. “That’s all you’re allowed—and I’m going to present it to the board of directors.”
MSTR Stock Analysis: Can It Hit $570?
As per TipRanks, the MSTR high price target is priced at $570, which matches BTIG’s stock price forecast for Microstrategy. According to TipRanks, the firm can easily achieve the $570 stock price high within the next 12 months, and sooner if Bitcoin claims $100K and the market supports MSTR momentum at the same time.
“The average price target for Microstrategy Inc. is $357.38. This is based on 8 Wall Street Analysts 12-month price targets issued in the past 3 months. The highest analyst price target is $570.00, and the lowest forecast is $270.00. The average price target represents a -24.58% decrease from the current price of $473.83. Microstrategy Inc.’s analyst rating consensus is a Strong Buy. This is based on the ratings of 8 Wall Street analysts.”
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