MSTR Stock Soars on Bullish Bitcoin Outlook
MicroStrategy's (MSTR) stock has been on the rise, increasing by 5.88% following strong investor optimism over its latest strategic expansion.
Alliance Global started coverage on MSTR with a Buy rating and a $217 target, citing the company's 845,050 BTC stash and potential to outperform bitcoin during a 6-18 month bull run.
The company has also built a $1.59B 'USD Cash' liquidity pool, funded partly by $2.01B in new share sales, to fuel future bitcoin moves and manage preferred dividends, debt, and dollar reserves.
Management reports around $5.1B in USD reserves and more than $1.3B-$1.44B in cash, with a current ratio of 5.4 and total debt to equity near 0.22.