TECH - MicroStrategy Positions To Capitalize On Upcoming Bitcoin Halving: Analyst | Benzinga
Benchmark analyst Mark Palmer maintained MicroStrategy Inc (NASDAQ:MSTR) with a Buy and raised the price target from $990 to $1,875.
The analyst noted MicroStrategy, a levered play on Bitcoin, is particularly well positioned to benefit from the fourth Bitcoin halving set to occur by April 20, when the new supply of Bitcoin will reduce by half.
The new price target for MicroStrategy reflected his assumption Bitcoin would reach $150,000 by the end of 2025.
Also Read: MicroStrategy’s Bitcoin Surge: How a Tech Company Outpaces eBay and Delta in Market Cap
Palmer initiated coverage on Feb. 27 based on his assumption that Bitcoin’s price would reach $125,000 by year-end 2025. Since then, the price of Bitcoin has rallied ~27%.
He noted the three previous Bitcoin halvings, in 2012, 2016 and 2020, saw an explosive appreciation in the crypto’s price occur after the halving took place.
While the upcoming Bitcoin halving would create a supply shock like the previous ones, he noted ...