MicroStrategy stock has once again stolen the spotlight today after the Norway Central Bank revealed massive investments into MSTR shares. This recent revelation also cemented bets over a potential 50% rally in the company’s stock by 50%, indicating a potential surge over the $500 mark. The analysts remain bullish on the asset’s long-term trajectory given its increased focus on Bitcoin.
Norway Central Bank Holds $500 Billion In MSTR Stock
According to the investment record of Norges Bank Investment Management, the company holds $514.05 million worth of MicroStrategy stock, sparking investors’ optimism. This revelation signals the growing institutional confidence towards the MSTR share, especially with the company’s increasing BTC accumulation.
However, it’s also worth mentioning that Norway’s Central Bank also holds significant shares in other crypto stocks. For context, the bank’s revelation showed that it holds Coinbase (COIN) shares worth $530.82 million. In addition, the investment management leader also spends $4.42 million in Japan’s MicroStrategy, Metaplanet.
Notably, this comes just after Metaplanet recently announced to raise $745 million to buy 21,000 Bitcoin. This also reflects the shifting institutional focus towards the flagship crypto, especially as Donald Trump’s election win has sparked market optimism.
MicroStrategy Continues Its Bitcoin Buying Strategy
Michael Saylor’s MicroStrategy has become a synonymous name to Bitcoin. The company’s increasing Bitcoin focus has made it the investors’ favorite, especially among digital assets enthusiasts.
Notably, the MicroStrategy has recently acquired 10,107 BTC for $1.1 billion. With this recent purchase, the company’s total BTC holdings surged to 471,107 BTC, acquired at around $30.4 billion for an average per Bitcoin price of $64,511.
Can MicroStrategy Stock Hit $500?
MicroStrategy stock price continued its surge in the pre-market session, following the Norway Central Bank’s disclosure. During writing, the MSTR stock rose more than 1% and exchanged hands at $345, after closing at $341.25 in the prior session.
Notably, a recent Barrons report showed that MSTR stock is likely to rally 50% ahead, citing Mizuho Securities analysts. The analysts, led by Dan Dolev, gave an “Outperform” rating to the MicroStrategy stock while setting a price target of $515.
Meanwhile, the report suggested that its surge will likely follow the BTC trend, which is also expected to move higher in the coming days. A flurry of experts has shared a bullish forecast for BTC, sparking market optimism.
A recent Bitcoin price analysis hints at a potential rally for the crypto to $109K. Notably, BTC price was up nearly 3% today and exchanged hands at $105,312, while its trading volume soared 25% to $52.6 billion.
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