MicroStrategy stock (NASDAQ: MSTR) has risen 552.52% in a year and is among the top performers in the US markets. Its price hovered around the $32 level in October 2023 but now stands at $212 in October 2024. It sustainably scaled up in the charts, beating all leading US indexes by a larger margin.
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In year-to-date alone, MicroStrategy stock has surged 210% tripling investors’ money in just 10 months. It also hit an all-time high of $212 on Friday’s closing bell. Traders who took an entry position last year or early this year have made stellar profits.
MicroStrategy Stock Price Prediction: What Next For The Multi-bagger?
Leading stock market prediction firm TipRanks has projected a bullish picture for MicroStrategy stock. According to the price prediction, MSTR could rise to $290 in the next 12 months. That’s an uptick and return on investment (ROI) of approximately 37% from its current price of $212. Therefore, an investment of $1,000 could turn into $1,370 if the forecast is accurate.
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“The average price target is $208.75 with a high forecast of $290.00 and a low forecast of $173.00,” read the prediction. Though the forecast is bullish, MicroStrategy stock might not double or triple in price for the next 12 months.
The price run is also turning Bitcoin bullish in the charts this year. MicroStrategy currently owns 252,220 Bitcoins worth a staggering $9.91 billion. The firm has accumulated Bitcoin at every level and remains extremely bullish on the asset. Its founder, Michael Saylor, has repeatedly predicted that Bitcoin could reach $13 million by 2045.
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“One day we can see $13 million per Bitcoin. First things first, let’s break a hundred thousand, and then let’s break a million dollars,” said Saylor. If Bitcoin hits $13 million, MicroStrategy stock could climb above $1,000 in the indices during the same timeline.