Benchmark has reaffirmed its buy rating for MicroStrategy (MSTR), setting a target price of $705. The firm highlights MicroStrategy's innovative use of perpetual preferred shares as a stable capital source to counter Bitcoin price fluctuations. With 640,031 Bitcoin, MicroStrategy holds the largest corporate Bitcoin reserve. The company's recent $252 million issuance of Bitcoin-linked fixed income products underscores strong investor interest, with Benchmark projecting this market could expand into a multi-billion-dollar industry.
Benchmark Reaffirms Buy Rating for MicroStrategy, Sees Bitcoin-Linked Market Growth
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