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Barchart
Anushka Dutta

Why This Analyst Thinks MicroStrategy Stock Can Soar to a New Street-High Target of $680

Strategy MicroStrategy Bitcoin MSTR TD Cowen Brett Knoblauch HC Wainwright

Digital currency holding company MicroStrategy, now rebranded as Strategy (MSTR), recently received a stock price upgrade from TD Cowen. Analysts at the investment firm raised the price target from $590 to a Street high of $680 because of surrounding optimism regarding the company’s Bitcoin (BTCUSD) operations. 

The company has been acquiring Bitcoin at a steady pace. In fact, Strategy recently purchased 4,225 more BTC for $472.5 million. This announcement also came at a time when Bitcoin reached a new all-time high, climbing above the $123,000 mark. 

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