Benchmark Managing Director and Senior Research Analyst for Fintech and Digital Assets significantly raised his price target on MicroStrategy (MSTR), from $990 to $1,875, while reiterating the Buy rating on the stock. This move was prompted by the ongoing rally in Bitcoin (BTC-USD), as the much-anticipated halving event approaches. Palmer joins Market Domination to discuss his bullish outlook.
Palmer acknowledges the common question: "Why is MicroStrategy trading at such a big premium when investors can purchase Bitcoin themselves?" However, he notes that this view is "looking at things from a static standpoint." Instead, Palmer’s strategy focuses on assessing how much Bitcoin MicroStrategy will hold in the coming years, what the price of Bitcoin will be at that time, and "how the company is going to be able to get to that higher level of Bitcoin holdings?"
Regarding Bitcoin’s price outlook, Palmer predicts it will reach $150,000 by the end of 2025, driven by a "supply shock" during the Bitcoin halving, where the cryptocurrency’s supply will be diminished. Additionally, he cites a "demand shock" resulting from the approval of spot Bitcoin ETFs, which have seen over $34 billion in inflows.
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