Shares of MicroStrategy Inc. looked set to extend their bounce on Monday, after Benchmark analyst Mark Palmer raised his price target to the highest on Wall Street, saying the ability of the company to create shareholder value through its bitcoin purchases is being undervalued.

Bernstein analyst Gautam Chhugani, who boosted his price target on MicroStrategy by $310 to $600 a share in a note published Monday, sees the group as a principal beneficiary. Chhugani estimates MicroStrategy owns around 1.7% of global bitcoin and says could grow to 4% over the next decade in his base-case scenario.

Michael Saylor explains that MicroStrategy's MSTR stock adds value to Bitcoin just as oil companies gain value by refining oil to gasoline.

MicroStrategy stock is up more than fivefold in 2024 thanks to a furious rally in bitcoin. Here's what you need to know.

The company is setting a trend for others to follow, and many are already taking note of its aggressive buying strategy.

Bernstein analysts predict MicroStrategy will own 4% of the total bitcoin supply by the end of 2033, an amount they expect to be worth about $830 billion.

MicroStrategy buys more bitcoin, and Benchmark analyst’s new Street-high stock price target implies more than 60% upside.

MicroStrategy Inc. bought a record $5.4 billion in Bitcoin, the third major purchase announced this month by the crypto hedge fund proxy.

Shares in MicroStrategy, the largest corporate holder of bitcoin, initially jumped and then fell Monday after the software company said it had bought $5.4 billion of the cryptocurrency.