TL;DR
- MicroStrategy receives a positive evaluation from Bernstein with optimistic projections about Bitcoin’s price, predicting it could reach $1 million by 2033 and a cycle high of $200,000 by 2025.
- MicroStrategy becomes the top corporate owner of Bitcoin, holding 1.1% of the global supply, valued at approximately $14.5 billion.
- Bernstein assigns MicroStrategy a “outperform” rating with a price target of $2,890 per share.
MicroStrategy, the renowned software company based in Tysons Corner, Virginia, has received a positive evaluation from Bernstein, with optimistic projections about Bitcoin’s price and the company’s future in the market. According to Bernstein’s report, the price of BTC could potentially reach $1 million by the year 2033, marking exponential growth from its projected cycle high of $200,000 by 2025.
Under the leadership of its founder and CEO, Michael Saylor, MicroStrategy has become the primary corporate owner of Bitcoin, holding approximately 1.1% of the global cryptocurrency supply, valued at around $14.5 billion. Since 2020, the company has pursued an active strategy in acquiring BTC, using both its own capital and debt to expand its reserves.
Bernstein’s evaluation awarded MicroStrategy an “outperform” rating, accompanied by an ambitious price target of $2,890 per share. This value contrasts with the closing price of approximately $1,484 recorded last Thursday, demonstrating high bullish expectations for the company in the market.
Bernstein Praises MicroStrategy’s Decision-Making
The report highlights that MicroStrategy’s long-term convertible debt strategy provides significant leverage to benefit from potential Bitcoin price increases, minimizing the risk of liquidating its current cryptocurrency holdings. This has allowed the company not only to solidify its position as a key player in the BTC ecosystem but also to differentiate itself from Bitcoin ETFs by opting for a more active and direct strategy in acquiring and managing digital assets.
Bernstein’s bullish forecast is based on the growing demand for Bitcoin ETFs and the limited supply of the cryptocurrency, conditions that could contribute to sustained price increases in the coming years. In response to these projections, MicroStrategy continues to expand its BTC wallet, recently completing a purchase of 9,200 BTC funded by a $500 million debt offering in March 2024.
The future of MicroStrategy as a leader in the industry and the BTC market appears promising, reinforced by its ability to interpret digital financial markets with a long-term vision and a deliberate strategy of accumulating digital assets.
