Investment bank TD Cowen has updated its forecasts for MicroStrategy stock and Bitcoin price, reflecting the company's active crypto acquisition strategies.
TD Cowen's MicroStrategy Stock Forecast
Investment bank TD Cowen has raised its target price for MicroStrategy (MSTR) stock from $590 to $680, maintaining a 'buy' rating. Analyst Lance Vitanza stated that the stock has a potential upside of 50.77%. He also predicts that MicroStrategy's active Bitcoin purchases could create additional value for shareholders.
Michael Saylor's Bitcoin Holdings Expansion
MicroStrategy continues to expand its Bitcoin holdings, reaching a total of 601,550 BTC after the recent purchase of 4,225 BTC for $472.5 million. This acquisition was made at an average price of $111,827 per coin. Chairman Michael Saylor highlighted that the total value of the company’s Bitcoin holdings has reached nearly $74 billion, adding $30 billion to its unrealized profits.
Bitcoin Price Predictions for Year-End
TD Cowen predicts that the price of Bitcoin could reach $155,000 by the end of 2025. This is linked to increased corporate interest and rising investments in Bitcoin ETFs. Earlier this week, the price of Bitcoin hit a new all-time high of $123,100, with companies such as Metaplanet and GameStop noted as Bitcoin holders.
The forecasts made by TD Cowen highlight the growing interest in Bitcoin and MicroStrategy's active strategies to increase its investment positions, which may have a significant impact on the cryptocurrency market in the coming months.
