MicroStrategy (MSTR) is back in the spotlight after Norway’s Central Bank, Norges Bank Investment Management (NBIM), revealed a massive investment in the company’s stock, fueling optimism among investors. According to NBIM’s latest investment records, the fund holds $514.05 million worth of MSTR shares, a significant endorsement of MicroStrategy’s Bitcoin-focused strategy.

This revelation has strengthened market sentiment, with analysts predicting a potential 50% rally, setting their price target at over $500 per share. The growing institutional confidence in MSTR, particularly in light of MicroStrategy’s aggressive Bitcoin accumulation strategy, has further solidified its reputation as a top crypto-linked stock.

Norway’s Central Bank Expands Crypto Stock Holdings

NBIM’s investments extend beyond MicroStrategy. The wealth fund also disclosed holdings in other major crypto-related stocks:

  • Coinbase (COIN): $530.82 million
  • Metaplanet (Japan’s version of MicroStrategy): $4.42 million

The investment in Metaplanet comes just after the company announced plans to raise $745 million to acquire 21,000 BTC, highlighting the increasing institutional shift toward Bitcoin. With Donald Trump’s election win also boosting market optimism around crypto-friendly policies, investors are betting on further institutional adoption.

MicroStrategy’s Bitcoin Holdings Reach 471,107 BTC

MicroStrategy, led by Michael Saylor, continues to expand its Bitcoin holdings, cementing its position as a leading corporate BTC holder. The company recently purchased an additional 10,107 BTC for $1.1 billion, bringing its total Bitcoin stash to 471,107 BTC.

The company’s total BTC acquisition cost stands at approximately $30.4 billion, with an average purchase price of $64,511 per Bitcoin. This aggressive accumulation strategy has made MicroStrategy a top choice for institutional investors looking for indirect Bitcoin exposure.

MSTR Price Surge: Analysts Set $500 Target

Following NBIM’s investment disclosure, MSTR stock gained over 1% in pre-market trading, reaching $345 per share, after closing at $341.25 in the previous session.

According to Mizuho Securities analysts, led by Dan Dolev, MicroStrategy stock is set to rally 50%, with a price target of $515. The analysts maintain an “Outperform” rating on MSTR, citing its strong correlation with Bitcoin’s price movements.

With Bitcoin’s price currently hovering around $105,312, market analysts predict a potential BTC rally to $109K, which could further fuel MicroStrategy’s stock surge.

Conclusion

MicroStrategy’s Bitcoin-first strategy continues to attract major institutional investors, with Norway’s Central Bank investing over $514 million in MSTR shares. As Bitcoin’s price trajectory remains bullish, analysts anticipate a significant upside for MSTR, with targets exceeding $500 per share. With continued Bitcoin accumulation and growing institutional interest, MicroStrategy remains one of the top-performing crypto-linked stocks in 2024.

The original news was featured on CoinGape.

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