Microstrategy Stock Soars 7% After Berenberg Says Bitcoin Halving May Trigger Rally

• The stock terms of bundle steadfast Microstrategy accrued by 7% pursuing a caller projection by Berenberg. 
• The concern slope believes that adjacent year’s Bitcoin halving could trigger a rally successful Microstategy’s banal (MSTR). 
• Berenburg’s existent MSTR terms people is $430, which would beryllium an 18-month high.

Hamburg-based Berenberg Capital Markets precocious circulated a probe enactment which presented the upcoming Bitcoin halving arsenic a imaginable trigger lawsuit for the stock terms of the United States-based bundle steadfast Microstrategy. Berenberg believes that the 4th Bitcoin halving could pb to a sizeable rally successful the stock terms of Bitcoin maximalist Michael Saylor’s company. 

Berenberg Shares Bullish Price Target For Microstrategy

According to a probe enactment shared with The Block, Berenberg Capital Markets placed astir of Microstrategy’s worth connected the monolithic Bitcoin holding connected its equilibrium sheet, which exceeded a whopping 150,000. The concern slope is counting connected the antecedently seen rally successful BTC’s terms pursuing the halving event, to trigger a bullish script for the stock terms of Saylor’s institution arsenic well. 

“If the 4th bitcoin halving features helium benignant of beardown rally successful the terms of bitcoin that occurred anterior to and pursuing the archetypal 3 halvings, past we judge it is apt that MSTR’s banal would rally on with it; the correlation betwixt the company’s stock terms and the terms of bitcoin is ~0.90.”

Berenberg presently has a alternatively bullish terms people for Microstrategy’s stock, $430 to beryllium precise. The concern slope believes that the bundle firm’s stock terms volition scope an 18-month precocious and present numbers that were antecedently witnessed successful January 2022. At the clip of writing, the banal was trading astatine $407.7, up much than 7% implicit the past 24 hours. 

Previously witnessed trends suggest that Microstrategy’s banal reacts to the terms enactment of Bitcoin. A driblet successful BTC is usually mirrored by the bundle company’s stock price. A probe study released by Standard Chartered connected Monday reinforced MSTR’s bull case. The British banking elephantine accrued its BTC terms people and stated that the flagship cryptocurrency could scope $130,000 by the extremity of 2023.