Summary
Analyst raises price target for MicroStrategy stock to $1,875 as bitcoin halving approaches. Bitcoin ETF demand expected to increase post-halving. MicroStrategy continues to increase its bitcoin holdings. Stock trading at a premium due to ability to tap capital markets at attractive rates.
Key Points
1. Mark Palmer nearly doubled his price target for MicroStrategy stock to $1,875 per share in anticipation of upward price action after the imminent bitcoin halving.
2. The $1,875 price target is based on the assumption that bitcoin’s price will rise to $150,000 by the end of 2025, reflecting a positive outlook on the cryptocurrency market.
3. Industry analysts expect MicroStrategy to continue increasing its bitcoin holdings, with the company currently holding 214,246 BTC and projected to hold 298,246 BTC by the end of 2025, representing a nearly 40% increase from its current stack.