Big-Time Bitcoin Bull Michael Saylor Encourages Followers To Keep Stacking Coins But 'Stay Humble'
Portfolio Pulse from Benzinga Neuro
Michael Saylor, CEO of MicroStrategy Inc. (NASDAQ:MSTR), encouraged Bitcoin holders to accumulate more of the cryptocurrency in a recent tweet. This comes as Bitcoin's price has seen a significant rise, with MicroStrategy being the largest corporate holder of Bitcoin. Benchmark's $990 price target for MicroStrategy is based on the expectation that Bitcoin will reach $125,000 by the end of 2025, driven by factors such as SEC's endorsement of spot Bitcoin ETFs and the fourth Bitcoin halving.
February 29, 2024 | 1:15 am
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MicroStrategy's stock may see a short-term positive impact due to the CEO's bullish stance on Bitcoin and the company's significant holdings in the cryptocurrency.
Michael Saylor's tweet and the company's large Bitcoin holdings, coupled with Benchmark's optimistic price target for MicroStrategy, suggest a positive outlook for MSTR stock in the short term. The anticipation of Bitcoin's value increase and its impact on MicroStrategy's strategy and holdings could drive investor interest and potentially lift the stock price.
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