MicroStrategy Building ‘World’s Largest Bitcoin Business’ Says Bernstein

Joshua Ramos
MicroStrategy disclosed in its third-quarter earnings report last week that it purchased 155 additional bitcoins in October.
Source: Exodus Wallet

MicroStrategy is set to build “the world’s largest Bitcoin business,” according to prominent wealth management firm Bernstein. Indeed, the firm noted that the Michael Saylor-led company could still increase by a remarkable 80% amid its ongoing BTC acquisition strategy.

Saylor has been outspoken in his commitment and belief in Bitcoin, and that shows in MicroStrategy’s operations. Moreover, Bernstein analyst Gautam Chhugani told CNBC that Saylor has made the company “synonymous with the brand Bitcoin,” and is set to capitalize on its impending growth.

Source – CoinGape

Also Read: Bitcoin: MicroStrategy to Raise $500 Million For BTC Purchase

MicroStrategy Boasts 80% Upside Amid BTC Strategy

2024 has already proven to be the year of Bitcoin. The asset has dominated discussions within the finance sector following the approval of a Spot Bitcoin ETF in January of this year. As we approach the midpoint, it has remained at the forefront of conversations across the sector.

That prominence is set to have a massive impact on early adopters and investors. Among those is Microstrategy, which Bernstein says is building “the world’s biggest Bitcoin business.” Specifically, the company’s close connection with the asset has allowed its overall value to surge alongside the leading cryptocurrency.

With the presence of crypto-based ETFs, it is MicroStrategy’s “active-leveraged” BTC acquisition approach that sets it apart from other entities. Specifically, Chhugani said that the company’s “active strategy has delivered a higher Bitcoin per equity share… on a dollar basis.”

Source: Watcher.Guru

Also Read: Tether CEO Calls Bitcoin the Only Decentralized Currency

As of May this year, Saylor’s Microstrategy had acquired more than 2140,000 BTC. Moreover, the company is already set to fund another $500 million acquisition of the token. As Bitcoin continues to grow, there may be no entity better positioned to benefit from that as MicroStrategy is.

Over the last year, the price of Bitcoin is up more than 155%. Moreover, it set a landmark record price in March, reaching $73,000 after its ETF approval. It should only continue to grow as institutional investment and mainstream interest increase in the coming years.