
MicroStrategy, led by Michael Saylor, has expanded its Bitcoin portfolio by purchasing an additional 3,000 Bitcoins for $155 million, bringing its total holdings to 193,000 Bitcoins. This acquisition, part of a $6.09 billion total investment in Bitcoin, has propelled the company's Bitcoin investment value to over $11 billion. The firm's strategy has yielded a profit of approximately $4.94 billion, with the Bitcoin price jumping from $41,000 to over $50,000. Analysts, noting the company's bullish stance on Bitcoin, have given MicroStrategy a positive outlook. Benchmark initiated coverage with a 'Buy' rating and a $990 price target, predicting a 24% upside and speculating Bitcoin's price could reach $125,000 by the end of 2025. MicroStrategy's stock has benefited, seeing a 25% increase over five days.
Investment bank Benchmark has a buy rating on MicroStrategy with a $990 price target. Benchmark said its target price for MicroStrategy is based on their assumption that the price of Bitcoin will reach $125,000 by the end of 2025. https://t.co/pSJRu4TVuT
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