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MSTR

MicroStrategy

$238.28 /

+17.53 (+7.94%)

12:01
11/24/20
11/24
12:01
11/24/20
12:01

Citron puts $700 target on MicroStrategy, says best way to play bitcoin

Andrew Left's Citron Research says MicroStrategy (MSTR) is the best way to own bitcoin in the stock market. The firm, in a new report posted on its website, put a $700 price target on MicroStrategy shares. The stock in midday trading is up 9%, or $18.93, to $239.69. "Today, we are long bitcoin as we believe there is no better inflation hedge in the market," Citron wrote. The business intelligence company owns more bitcoin than any other publicly traded company, Citron points out. In Q3, MicroStrategy invested $425M to purchase 38,250 bitcoins, which have a current market value of over $700M. Therefore, MicroStrategy is trading at just 2.5 times sales, according to Citron. If bitcoin trades to $50,000, MicroStrategy could be worth $700 per share, it claims. Reference Link

MSTR MicroStrategy
$238.28 /

+17.53 (+7.94%)

11/17/20 BWS Financial
MicroStrategy price target raised to $230 from $200 at BWS Financial

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