2024

Bitcoin

Toncoin

Read

Avalanche

Analysts see potential for further growth in MicroStrategy Inc.’s shares following its Bitcoin acquisitions throughout the bull market.&nbsp; 
According to <a href="https://www.bloomberg.com/news/articles/2024-04-05/microstrategy-mstr-eyes-more-gains-on-bitcoin-halving-after-150-rally" target="_blank" rel="">Bloomberg</a>, analyst Andrew Harte recently raised his price forecast for the company’s stock to $1,800, suggesting a potential increase of at least 10% from its current trading price. The new target significantly jumps from the previous estimate of $780. 
The rapid rise of <a href="https://www.marketwatch.com/investing/stock/mstr" target="_blank" rel="">MicroStrategy’s</a> shares has surpassed many Wall Street predictions in the past month. The company, which holds over 214,000 Bitcoin as of March 18, has mirrored and even exceeded the cryptocurrency’s price increases. Despite reaching an intraday peak of $1,999 in March, the stock’s current valuations still exceed most analysts’ expectations. 
 You might also like: <a href="https://crypto.news/microstrategy-bitcoin-kerrisdale-capital/" rel=""> Kerrisdale Capital: MicroStrategy’s unique way to access Bitcoin ‘long over’ </a> 
<figure class="wp-block-image size-full">
 <picture loading="lazy" decoding="async" class="wp-image-14263758"> 
 <source type="image/webp" srcset="https://crypto.news/app/uploads/2024/04/Screenshot-2024-04-05-203100.png.webp"> 
 <img loading="lazy" decoding="async" width="968" height="356" src="https://crypto.news/app/uploads/2024/04/Screenshot-2024-04-05-203100.png" alt="Analysts predict MicroStrategy’s stock to rise 16%&nbsp; - 9"> 
 </picture> 
 <figcaption class="wp-element-caption">
 MicroStrategy’s stock growth in 2024 | Source: <a href="https://www.marketwatch.com/investing/stock/mstr" target="_blank" rel="">MarketWatch</a>
 </figcaption>
</figure> 
The upcoming Bitcoin halving event, expected to occur later this month, typically results in a price increase for the cryptocurrency by reducing its new supply. Bitcoin’s surge of over 50% to new highs this year has played a critical role in MicroStrategy’s success, driven by acquiring more digital assets through capital fundraising. 
MicroStrategy currently has the largest <a href="https://www.coingecko.com/en/public-companies-bitcoin" target="_blank" rel="">Bitcoin holding</a> among all public companies. After its latest <a href="https://crypto.news/bitcoin-microstrategy-ownership-total-supply/" rel="">acquisition</a> in March, the company now holds nearly 1% of BTC’s total supply.&nbsp; 
 Read more: <a href="https://crypto.news/toncoin-enters-top-10-crypto-by-market-capitalization-overtakes-avalanche/" rel=""> Toncoin enters top 10 crypto by market capitalization, overtakes Avalanche </a>

Analysts predict MicroStrategy’s stock to rise 16%

crypto.news

Other articles published on Apr 5, 2024

Bitcoin Eyes $70K Break Despite Volatility Dip

Bitcoin’s strong performance absorbs $100 mln of sell-off, What’s next?

Bitcoin Price: Top Reasons BTC Price is Up Today

2024 Crypto Boom: CoinLedger Study Unveils Over $2,000 Surge In Average Portfolio Value

XRP Price Predictions for End of April

How High Will Shiba Inu Price Go Before Christmas 2023?: SHIB Price Boom Is Closer Than You Think...

Join our free newsletter for daily crypto updates!