If You Are Bullish on Bitcoin, This Skyrocketing Software Stock Is a Screaming Buy
The first six months of the year have been extraordinary for Bitcoin (CRYPTO: BTC). The world's largest cryptocurrency by market capitalization is now up more than 80% for the year, and analysts are increasingly bullish about the crypto's long-term prospects. In fact, some analysts are now predicting that Bitcoin could hit $100,000 by the end of 2024.
But what if you are not ready to hold Bitcoin directly in your portfolio? Well, there's another way to get access to the upside potential of Bitcoin without taking on as much risk, and it comes in the form of (NASDAQ: MSTR), an enterprise software stock that's up almost 170% for the year. The company holds a tremendous amount of Bitcoin on its balance sheet, and that's what makes it a fantastic indirect play on the price of Bitcoin.
In August 2020, MicroStrategy became the first publicly-traded company to buy Bitcoin as part of its capital allocation strategy. Since then, MicroStrategy has been binge-buying Bitcoin and the company's founder, Michael Saylor, has become one of the biggest Bitcoin bulls in the world. The company now holds more than $4.6 billion worth of Bitcoin on its balance sheet. That's far more than even Coinbase, the world's second-largest cryptocurrency exchange.
Source Fool.com
Microstrateg.a New Stock
With 18 Buy predictions and not the single Sell prediction the community is currently very high on Microstrateg.a New.
With a target price of 174 € there is a positive potential of 40.49% for Microstrateg.a New compared to the current price of 123.85 €.
