Analyst: In a bull market, Bitcoin will rise to over $90,000 and MicroStrategy's stock price will increase to $2,700
BTIG analyst stated that due to a massive bet on Bitcoin, MicroStrategy Inc.'s stock price has soared 150%, and with the surge in cryptocurrency, there is further room for MicroStrategy Inc.'s stock price to rise. Analyst Andrew Harte raised his target price to $1,800 on Friday, implying that the stock could rise at least another 10% from recent trading.
Harte further analyzed the upside and downside of MicroStrategy, stating that if the premium shrinks and regulatory pressure hits the cryptocurrency market, the stock price could fall to $700 and push Bitcoin down to $48,000. However, in a bull market scenario where Bitcoin soars above $90,000 and the company's share premium rises indicating a stock price of $2,700 - nearly a 70% increase from current trading levels.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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