MSTR Surges on Bitcoin Treasury Expansion
MicroStrategy's stock has surged by 16.84% as investors welcome its latest bitcoin treasury expansion, according to recent market data.
The move comes after Alliance Global launched coverage on MicroStrategy with a Buy rating and a $217 price target, citing the company's roughly 845,050 BTC stash and potential to outperform bitcoin in the coming 6-18 month bull run.
Canaccord boosted its MSTR price target to $175 from $130 and kept a Buy rating, pointing to a stronger setup driven by both company moves and macro tailwinds.
MicroStrategy added 4,603 bitcoin for $369.7M at an average $80,318, lifting its holdings to 845,050 BTC bought for about $63.73B.