According to a research analysis, Berenberg expects Bitcoin (BTC) will continue to rise before and after the subsequent halving event.
The German Bank Has a Buy Rating on MicroStrategy (NASDAQ: MSTR)
According to a research analysis, Berenberg expects Bitcoin (BTC) will continue to rise before and after the subsequent halving event, which is the basis for its bullish perspective on MicroStrategy, the firm founded by Bitcoin proponent Michael Saylor.
The second quarter of next year is when Bitcoin is predicted to undergo the halving, and if the pattern set by the first three halving events is repeated, the "pre-halving rally" should start roughly four months from now.
The German bank has a buy rating on MicroStrategy (NASDAQ: MSTR) shares with a price target of $430. MSTR currently trades at $412.30 per share.
The report also stated that "if its share price, and the value of its Bitcoin holdings, were to increase meaningfully," the company's capacity to refinance its debt maturities would be significantly improved. It is expected that MicroStrategy shares will increase if the fourth halving event follows the bullish pattern for Bitcoin.
