MicroStrategy Stock Rises Ahead of Major Bitcoin Purchase Announcement
- MSTR stock surged over 3% to nearly $144 in premarket trading on March 16.
- The stock has increased by approximately 30% since a low of $106 last month.
- Wall Street analysts have an average price target of $297 for MSTR, with some estimates as high as $705.
- MicroStrategy is expected to announce its largest Bitcoin acquisition today, following a recent purchase of nearly 18,000 BTC.
- Bitcoin is currently trading at approximately $73,576, recovering past the $74K mark after six weeks.
The anticipated announcement from MicroStrategy could significantly impact both its stock and the broader Bitcoin market, especially as the company aims to acquire nearly 6,158 BTC weekly to reach a goal of one million BTC by year-end.
With MSTR stock closing at $139.67 on Friday and showing strong upward momentum, investor interest remains high ahead of today’s major announcement.(Source)
