With Bitcoin starting to regain momentum, keep an eye on MicroStrategy (SYM: MSTR).
That’s because as BTC pushes higher, MSTR will typically follow, especially with the company now in possession of 226,500 BTC as of June.
Helping, analysts at Cantor Fitzgerald just initiated an overweight rating on the MSTR stock, noting that “MicroStrategy is technically a provider of business intelligence and analytics software; however, the value in the business, in our view, lies in its ability to cost effectively accumulate Bitcoin.”
Last trading at $136.80, we’d like to see MSTR rally back to $180 near term.
