MicroStrategy has emerged as one of the strongest firms currently outpacing its competitors in the market. The leading business intelligence development company is now sitting at a whopping 711% profit due to its close connectivity with Bitcoin, the king of cryptocurrencies, which is currently inching forward to claim the ambitious $100K mark.
This cross-connection is crucial for Microstrategy’s success, as it could continue to drive the MSTR momentum forward. As Bitcoin’s popularity grows with the friendly crypto regime taking over the US, here’s why you should stock MSTR now for solid gains.
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MicroStrategy Stocks Are Fueling Up: Here’s Why You Should Buy The Stock Now
Source: Bitcoin News
MicroStrategy is one of the leading business intelligence development companies that is currently making headlines due to the firm’s close proximity to Bitcoin. The firm has recently raised $3 billion to buy more Bitcoins, which may amp up its bulging Bitcoin reserve, which is currently sitting at 331,200, each of which is valued at $98K at press time.
Michael Saylor, former CEO of Microstrategy, recently introduced a new perspective for the masses to understand how huge MSTR has truly become. Saylor shared that the firm’s fondness of Bitcoin has led it to bask in great profits, ushering in nearly $500 million worth of gains every day. In an interview with CNBC, Saylor reiterated how astonishing the development sometimes appears to be, with his firm making $500 million a day as Bitcoin nears $100K.
“We’re making $500 million a day. I’m staring at my screen, and we’re selling dollar bills for $3, sometimes a million times a minute.”
The former CEO of Microstrategy later shared how he believes his firm is the biggest profit maker in the current market.
“We may very well be the most profitable company in the U.S., growing the fastest right now. There’s not many companies making $500 million a day,” Saylor said.
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TipRanks Analysis: Should You Buy The Stock Now?
Per TipRanks, as Bitcoin nears the ambitious $100K mark, MSTR is also gaining significant price momentum. BTC has soared nearly 162% this year, while MSTR has scored a surge worth 711%. MSTR is gaining considerable price action due to its ability to deliver bond issuances by leveraging its balance sheet. This approach has helped MSTR score major gains, inviting investors to explore the stock at its full capacity.
As Per TipRanks, Microstrategy may hit a high of $570, which it can claim within the next 12 months.
“The average price target for Microstrategy Inc. is $357.38. This is based on 8 Wall Street Analysts 12-month price targets issued in the past 3 months. The highest analyst price target is $570.00, and the lowest forecast is $270.00. The average price target represents a -15.29% decrease from the current price of $421.88.”
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