BTIG has issued a 'buy' rating for MicroStrategy stock, setting a price target of $350, reflecting confidence in the company's Bitcoin-focused strategy despite significant first-quarter losses. MicroStrategy reported a net loss of $12.54 billion in Q1 2026, primarily due to unrealized Bitcoin valuation losses totaling $14.46 billion. Despite these losses, the company continues to hold approximately $2.21 billion in cash and cash equivalents. MicroStrategy's Executive Chairman, Michael Saylor, indicated the possibility of selectively selling Bitcoin to support shareholder returns, a shift from the company's previous 'never sell' stance. The firm has increased its Bitcoin holdings by 22% year over year, now owning 818,334 BTC. Analysts' price targets for MicroStrategy stock vary widely, with BTIG's $350 target among the highest, while others range from $175 to $320.