MSTR - What's Going On With 'Bitcoin Developer' MicroStrategy Stock? | Benzinga
MicroStrategy Incorporated (NASDAQ:MSTR) shares are trading at all-time highs Wednesday as the price of Bitcoin breached the $73,000 mark.
The Details:
The company acquired an additional 12,000 Bitcoin for approximately $821.7 million on Monday, bringing its total holdings to approximately 205,000 Bitcoin at an average purchase price of approximately $33,706 per coin.
Michael Saylor, Bitcoin advocate and executive chairman of MicroStrategy, was interviewed by CNBC and Yahoo Finance on Tuesday and said that Bitcoin is "digital property", and he has no plans to ever sell his Bitcoin holdings.
MicroStrategy received significant price target increases from analysts on Tuesday. Canaccord Genuity analyst Joseph Vafi maintained the stock with a Buy rating and raised the price ...