bitcoinone of the earliest advocates of Michael Saylorthe founder of MicroStrategy largest corporate BTC among its investors.
MicroStrategy, which made its last purchase in June, announced that it received 12,333 Bitcoins in its last purchase.
Announcing the BTC purchase, Saylor said “MicroStrategy bought another 12,333 BTC for $347.0 million at an average of $28,136 per Bitcoin. MicroStrategy holds 152,333 BTC worth $4.52 billion as of June 27, 2023” said.
While MicroStrategy continues its Bitcoin purchases, New York-based investment firm Berenberg Capital Markets Analysts examined the relationship of the Bitcoin halving to MicroStrategy stocks.
Stating that the upcoming Bitcoin halving could be a boon for Microstrategy stock, analysts said that Michael Sayor supports MicroStrategy shares with the upcoming Bitcoin halving.
Analysts, who set a price target of $ 430 for MicroStrategy shares, which are currently at $ 407, are the most important reason for this rise. BTC He said he had a halving.
“MicroStrategy shares get most of their value from 152,333 Bitcoins on its balance sheet as of June 27. And the upcoming Bitcoin halving will also bring a significant boost to the company’s shares.
Our expectation for the company’s shares is that the BTC price repeats the historical bullish pattern before and after each Bitcoin halving.”
bitcoin Noting that rallies are supported by halvings, Berenberg analysts said that if history repeats itself, the rally in Bitcoin will start in about four months.
“If the historical pattern created by the first three Bitcoin halvings continues with the fourth halving in 2024, the pre-halving rally will begin about four months from now.
If the fourth BTC halving includes a strong rally in Bitcoin price of the kind that occurred before and after the first three halves, we believe the MSTR will rise strongly along with the BTC price.”
MicroStrategy shares, which entered 2023 at approximately $140, are trading at $407 at the time of writing, up 180%.
*Not investment advice.
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