MicroStrategy Stock May Benefit from Bitcoin ETF, Not Ethereum

Analyst TD Cowens suggests that MicroStrategy’s share price could see significant gains by the end of the year due to increased institutional adoption of Bitcoin ETFs and the expected rejection of Ethereum ETFs by regulators.

Another catalyst could be the May 15 deadline for institutional investment managers to file form 13-F with the SEC, potentially revealing more institutions purchasing Bitcoin ETFs.

Additionally, the likely rejection of Ethereum ETFs by the SEC could drive investors towards Bitcoin.

MicroStrategy’s aggressive accumulation of BTC could further boost its share price. Analyst Lance Vitanza notes positive feedback from customers regarding MicroStrategy’s original software business, indicating potential upside in its operating business.

Despite reporting a net operating loss for the first quarter, MicroStrategy’s share price is up 89% year-to-date and could continue to climb higher, according to Vitanza’s positive outlook.

Image Credit: Shutterstock

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MicroStrategy Stock May Benefit from Bitcoin ETF, Not Ethereum

was first posted on May 7, 2024 at 10:03 pm.
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