Reported about 9 hours ago
H.C. Wainwright has started coverage of MicroStrategy (MSTR) with a buy rating and a price target of $480, citing the company's substantial Bitcoin holdings worth approximately $49 billion. The bank highlights MSTR's strategy of using its Bitcoin reserves to raise over $25 billion, enabling it to purchase more Bitcoin than shares issued, thus increasing its net asset value. MSTR's first-mover advantage in Bitcoin investment has also enhanced its reputation among investors, reflected in a 24% stock rise over the past month.
Source: YAHOO