MicroStrategy Stock Hits Highest Level Since March, Bernstein Predicts Further 51% Surge
MicroStrategy (MSTR) shares soared to their highest level since March on Oct. 8, and Bernstein estimates there’s still another 51% upside potential. Despite Bitcoin’s recent dip, MicroStrategy’s stock has defied the trend, outperforming both the broader market and Bitcoin itself. The MSTR price rose 3.3% yesterday to $192.20, has surged almost 20% in the past week, and almost 54% over the past month. Bernstein analysts believe the outperformance with Bitcoin can continue, and project a potential rise to $290, driven by the company’s substantial Bitcoin holdings and long-term optimism for the crypto market. MicroStrategy Stock Rises While Bitcoin Falls Being the largest corporate holder of BTC, MicroStrategy’s share price often echoes the movements of the pioneering crypto. However, the recent increase in MSTR’s price has deviated from this trend. While the S&P 500 dropped 1% on Monday, BTC also saw its price slide from $64K to $62.8K within a...