MicroStrategy’s Bitcoin Strategy is Pulling in the World’s Capital Reserves, Says Bernstein.

In a recent research update, Bernstein has boosted its price target for MicroStrategy (MSTR) to $600, up from $290, maintaining an “outperform” rating. The firm’s analysis underscores MicroStrategy’s unique Bitcoin treasury strategy, which is expected to attract significant investments into the cryptocurrency sector. Bernstein forecasts that by 2033, the company could control 4% of the global Bitcoin supply, a significant increase from its current 1.7%.

MicroStrategy’s founder, Michael Saylor, previously announced plans to purchase $42 billion in Bitcoin over the next three years, reinforcing the company’s long-term commitment to the cryptocurrency. Bernstein’s analysts are confident in Bitcoin’s structural bull market, supported by favorable regulation, increasing institutional adoption, and macroeconomic conditions.

Similarly, Canaccord Genuity raised its price target for MicroStrategy from $300 to $510 and kept its “buy” rating. The firm acknowledged that traditional financial metrics no longer fully capture the value of MicroStrategy, as its software business now plays a smaller role in its overall enterprise value compared to its Bitcoin holdings. Canaccord suggests that the real value is now best measured by the company’s Bitcoin accumulation per share.