Why Bitcoin's 2024 Halving Could Benefit Michael Saylor's MicroStrategy, But Not So Much The Miners
Portfolio Pulse from Mehab Qureshi
Berenberg Capital Market has set a price target of $430 for MicroStrategy Inc (NASDAQ:MSTR), citing the company's extensive Bitcoin holdings as a key value driver. The firm anticipates that the upcoming Bitcoin halving event in 2024, which reduces the rate of new coin issuance by 50%, will likely boost MicroStrategy's prospects. However, the halving could negatively impact Bitcoin miners, particularly those operating with suboptimal efficiency or high costs.
July 11, 2023 | 7:35 am
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
The upcoming Bitcoin halving event in 2024, which reduces the rate of new coin issuance by 50%, could potentially boost the value of Bitcoin. However, the event could negatively impact Bitcoin miners, particularly those operating with suboptimal efficiency or high costs.
The upcoming Bitcoin halving event could potentially boost the value of Bitcoin due to reduced new coin issuance. However, the event could negatively impact Bitcoin miners, particularly those operating with suboptimal efficiency or high costs, which could create some volatility in the market.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Berenberg Capital Market's bullish stance and price target of $430 for MicroStrategy could positively impact the company's stock. The upcoming Bitcoin halving event, which is expected to boost the value of MicroStrategy's extensive Bitcoin holdings, could further drive the stock price.
Berenberg Capital Market's price target and bullish stance on MicroStrategy, coupled with the potential positive impact of the upcoming Bitcoin halving event on the company's Bitcoin holdings, could drive investor interest and push the stock price up.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100