CDS Crypto News Canaccord Report: MicroStrategy Bitcoin Strategy Makes It a Top Stock for BTC Exposure
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Canaccord Report: MicroStrategy Bitcoin Strategy Makes It a Top Stock for BTC Exposure

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Canaccord Report MicroStrategy Bitcoin Strategy Makes It a Top Stock for BTC Exposure

Canaccord: MicroStrategy Bitcoin Strategy Drive Stock Success

Canaccord: MicroStrategy Bitcoin Strategy Drive Stock Success

According to a research report released by broker Canaccord on Thursday, MicroStrategy, the software business that Michael Saylor founded, is still among the finest options for stock investors to have exposure to Bitcoin because of its clever leverage approach. While keeping its buy recommendation, the firm increased its MicroStrategy price objective from $173 to $300. Early Friday trading saw a 0.4% increase in the stock to $245.50. The company has beaten both stocks and the biggest cryptocurrency in the world since implementing its Bitcoin acquisition strategy in 2020, according to analysts.

If stock price is the true test for any business model, then in our view MSTR is hard to beat,

analysts led by Joseph Vafi

MicroStrategy’s Stock Sale Aims to Fund $42 Billion Bitcoin Strategy as Market Optimism Grows

As part of a larger plan to purchase an additional $42 billion worth of bitcoin over the following three years, the software business launched a $21 billion at-the-money offering of its own stock on Wednesday in order to obtain funds for additional purchases. According to the writers, MicroStrategy’s leverage approach offers the possibility of more premium to spot resurfacing in MSTR shares.

Canaccord is optimistic about the future of Bitcoin as well. It said that supply restrictions after the halving event earlier this year and the U.S. approval and subsequent acceptance of spot ETFs were the main reasons why the cryptocurrency was leaning higher.

For more up-to-date crypto news, you can follow Crypto Data Space.

Canaccord Report: MicroStrategy Bitcoin Strategy Makes It a Top Stock for BTC Exposure
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lectertodd

Lectertodd is 27 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

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