MicroStrategy (MSTR) Stock Price To Hit $300 Amid $42B Bitcoin Buying Plan

Canaccord raised its price target for MicroStrategy stock (MSTR) to $300 from $173, as it keeps a “Buy” rating on the stock. The firm noted that MicroStrategy announced a $21 billion ATM stock offering that management intends to utilize, along with selective fixed-income offerings, to fund up to $42 billion of Bitcoin purchases over the next three years.

Canaccord sounded quite confident in this approach, underlining that it fits well with it’s long-term strategy to take advantage of the appreciation in the value of Bitcoin.

MicroStrategy Stock a “Buy” – Canaccord

Canaccord recently upped the price target for MicroStrategy stock to $300 from $ 173 while leaving its “buy” rating on the stock intact. At the same time, shares were down 0.64% and trading at $242.94 on Friday. MSTR, co-founded by Michael Saylor, became one of the better ways equity investors can get exposure to Bitcoin. Due to its strategic model of acquiring BTC, it has emerged as the favorite choice of investors who want to capitalize on price action in Bitcoin without actually buying the cryptocurrency.

If stock performance is any proxy for business model strength, then MSTR is one of the best in its class,” Canaccord analysts led by Joseph Vafi said. Since the company implemented its Bitcoin strategy in 2020, it has outperformed the broader stock market and Bitcoin, proving its leverage toward maximum shareholder returns when the cryptocurrency rises.#HMSTR100x Crypto #Hmstr🔥 #HmstrvsXEmpire #HMSTRUSDTPriceAlert $HMSTR