{"id":604751,"date":"2024-11-26T15:21:25","date_gmt":"2024-11-26T15:21:25","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=604751"},"modified":"2024-11-26T15:21:25","modified_gmt":"2024-11-26T15:21:25","slug":"bernstein-raises-its-mstr-price-target-to-600-as-microstrategy-buys-another-55-5k-btc-for-5-4-billion","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bernstein-raises-its-mstr-price-target-to-600-as-microstrategy-buys-another-55-5k-btc-for-5-4-billion","title":{"rendered":"Bernstein Raises Its MSTR Price Target To $600 As MicroStrategy Buys Another 55.5K BTC For $5.4 Billion"},"content":{"rendered":"
Bernstein has raised its price target for MicroStrategy (MSTR) from $290 to $600 while maintaining its outperform rating for the stock as the company spends $5.4 billion to purchase an additional 55,500 Bitcoins.<\/span><\/p>\n “We believe Bitcoin is in a structural bull market with conducive regulation and US government support, institutional adoption and favorable macro,” Bernstein analysts led by Gautam Chhugani wrote in a Nov. 25 report.<\/span><\/p>\n <\/p>\n The Bernstein analysts wrote in the report that they expect <\/span>MicroStrategy<\/span><\/a> to own 4% of Bitcoin’s total supply. This comes after the software firm said that it intends on buying another $42 billion worth of BTC over the next 3 years.<\/span><\/p>\n Staying true to its commitment to add to its Bitcoin stockpile, MicroStrategy purchased 55,500 BTC on Nov. 25, according to data from <\/span>Saylor Tracker<\/span><\/a>. With this recent buy, the firm acquired each <\/span>Bitcoin<\/span><\/a> at an average price of $97,862. <\/span><\/p>\n MicroStrategy has acquired 55,500 BTC for ~$5.4 billion at ~$97,862 per #bitcoin<\/a> and has achieved BTC Yield of 35.2% QTD and 59.3% YTD. As of 11\/24\/2024, we hodl 386,700 $BTC<\/a> acquired for ~$21.9 billion at ~$56,761 per bitcoin. $MSTR<\/a> https:\/\/t.co\/79ExzXk4UM<\/a><\/p>\n — Michael Saylor⚡️ (@saylor) November 25, 2024<\/a><\/p><\/blockquote>\nBernstein Expects MicroStrategy To Own 4% Of BTC’s Supply By 2033<\/span><\/h2>\n
\n