One analyst raised his price target from $245 to $300 per share on news of MicroStrategy’s bold Bitcoin buying plans.
MicroStrategy’s ambitious goal of buying $42 billion worth of Bitcoin (BTC) by 2027 could be a winner for shareholders, according to an Oct. 31 analyst report shared with Cointelegraph.
During MicroStrategy’s Oct. 30 earnings call, the company tipped plans to raise $21 billion in equity and another $21 billion in debt to fund a three-year, multibillion-dollar BTC buying spree dubbed the “21/21 Plan.”
“If there were any doubts that MicroStrategy (MSTR) would lean into its Bitcoin acquisition strategy amid a rising Bitcoin market, they were dispelled” by the Oct. 30 announcement, Benchmark fintech analyst Mark Palmer told Cointelegraph in an email.
