MicroStrategy's Bitcoin Stash Could Potentially Make It The World's Richest Company

Some elements of this story were previously reported by Benzinga, and it has been updated.

MicroStrategy Inc MSTR could uniquely benefit from the increasing price of Bitcoin BTC/USD, according to a recent report from Berenberg.

The business analytics software company, founded by Michael Saylor, holds approximately 140,000 Bitcoin as a balance sheet treasury asset, making it the largest corporate holder of Bitcoin.

Berenberg initiated coverage of the stock with a "Buy" rating and a $430 price target, suggesting that MicroStrategy shares offer an attractive way for investors to gain exposure to Bitcoin and navigate the digital asset space amidst an ongoing regulatory crackdown.

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"Bitcoin has emerged as a safe haven relative to other crypto tokens," the report noted. If investors increasingly turn to Bitcoin as an alternative currency amidst macro-related fears, then MicroStrategy shares stand poised to benefit, it explained.

Additionally, the upcoming fourth Bitcoin halving in May 2024 may serve as a positive catalyst for Bitcoin's price and, by extension, for MicroStrategy shares.

MicroStrategy is due to report its first-quarter earnings after the market close tomorrow. 

MSTR Price Action: MicroStrategy shares closed at $328.38 last Friday.

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