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Microstrategy's Stock Price Rises 7% Following Berenberg's Projection of Bitcoin Halving Triggering Rally

Software firm Microstrategy's stock (MSTR) rose by 7% after investment bank Berenberg projected that next year's Bitcoin halving could trigger a rally in the company's share price. Berenberg's current price target for MSTR is $430, which would be an 18-month high.

The bank believes that Microstrategy's massive Bitcoin holding on its balance sheet, which exceeds 150,000, could lead to a bullish scenario for the company's share price following the fourth Bitcoin halving.

Standard Chartered also released a research report reinforcing Microstrategy's bull case, increasing its BTC price target and stating that the flagship cryptocurrency could reach $130,000 by the end of 2023.

Bitcoin Bitcoin $94,856.42
-2.52%
MicroStrategy
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