Barclays raised the firm’s price target on MicroStrategy to $173 from $146 and keeps an Overweight rating on the shares. Given the company’s move this week to un-encumber 70,000 bitcoins, the entirety of the its bitcoin holdings are now unlocked, which will allow MicroStrategy to be more aggressive in its bitcoin accumulation strategy, the analyst tells investors in a research note. The firm believes MicroStrategy is in a “comfortable position to further accelerate BTC yield and build up the company’s war chest.”
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