MicroStrategy's stock surges over 1,000% since adopting Bitcoin, currently holding $16 billion worth of BTC

From Nasdaq
September 24, 2024 5:09 am:

MicroStrategy, led by Bitcoin advocate Michael Saylor, saw its stock surge over 1,000% since adopting Bitcoin in August 2020. The company now holds 252,220 BTC worth $16 billion, boosting its market cap from $1.4 billion to $30 billion. Barclays raised its price target to $173, while TD Cowen set a target of $200.00.

MicroStrategy recently raised $1 billion to buy more Bitcoin, adding 7,420 bitcoins for $458.2 million. Analysts give the stock a Strong Buy rating, with an average price target of $189.71, implying a 25.5% upside potential. The company shows no signs of slowing down in its Bitcoin buying spree.

Read more at Nasdaq: MicroStrategy’s (NASDAQ:MSTR) Bitcoin Bet Explodes Into Massive Gains