MSTR: Bitcoin Hoarder MicroStrategy Jumps 7% After Analyst Upgrades Price Target to $1,810

Hate it or love it, MicroStrategy is crushing it this year with shares flexing an increase of more than 130%, double the gains of Bitcoin.

Key Points:

• MicroStrategy shares get an upgrade.
• New BTC buy lifts stack to 205K tokens.
• Firm holds roughly $15 billion in Bitcoin.
• MicroStrategy stock MSTR is riding the wave of crypto appreciation in a true Bitcoin maxi fashion. Shares of the software company were last seen sporting a 7% gain to close at $1,593 after analyst firm Canaccord Genuity upgraded the stock to a buy and raised its price target to $1,810 a share.
• MicroStrategy is the largest corporate buyer of Bitcoin BTCUSD and its share price has largely been tracing the journey of the OG token. Until this year, when shares blasted off by more than 130% to date, compared with BTC’s 65% rise in the same time span. Why the obsession with BTC, though? “Due to its limited supply, bitcoin offers the opportunity for appreciation in value,” the company has said.
• A master of dollar-cost averaging, MicroStrategy has been buying BTC since 2020, regardless of tops or bottoms. The most recent purchase was unveiled this week by the company’s executive chairman and a vocal Bitcoin proponent Michael Saylor. Now, MicroStrategy owns 205,000 Bitcoin worth roughly $15 billion.