MicroStrategy’s (MSTR) Bitcoin strategy continues to attract significant attention from Wall Street analysts, with Bernstein lifting its price target to $600 from $290. This move reflects the firm’s belief that MicroStrategy’s innovative approach to accumulating Bitcoin positions it to draw billions in future investments. The company, which currently holds 1.7% of the global Bitcoin supply, is on track to reach 4% by 2033, according to Bernstein’s projections.
The firm’s analysts, led by Gautam Chhugani, remain optimistic about the broader market, noting favorable regulatory conditions, institutional adoption, and U.S. government support for Bitcoin. Additionally, MicroStrategy’s announcement of plans to acquire another $42 billion in Bitcoin over the next three years adds fuel to this bullish outlook.
In a similar vein, Canaccord Genuity raised its price target to $510, up from $300, highlighting the company’s shifting focus from its software business to Bitcoin as its main growth driver. Canaccord’s analysts suggest that traditional financial metrics are no longer sufficient to evaluate MicroStrategy, given its Bitcoin holdings. They emphasize that the true value of the company lies in its Bitcoin portfolio’s expansion, measured by “dollarized Bitcoin accretion per share.”
MicroStrategy shares responded positively to these upgrades, jumping more than 6% early in the trading session, reflecting growing confidence in the company’s Bitcoin-focused strategy.
