Bernstein raised the firm’s price target on MicroStrategy (MSTR) to $600 from $290 and keeps an Outperform rating on the shares. MicroStrategy’s Bitcoin treasury model is unprecedented on Wall Street, in the firm’s view, as it sees it as a company on an “insatiable path” to attract billions in global capital to invest in Bitcoin. Bernstein expects MicroStrategy to own 4% of the world’s Bitcoin over the next decade.
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