Bitcoin Halving Boosts MicroStrategy, Predicts $120K Price by 2024

Investment firm Berenberg Capital Markets predicts a bullish outlook for MicroStrategy (MSTR) due to the upcoming Bitcoin halving. The firm believes that MicroStrategy's value, primarily derived from its significant Bitcoin holdings, could see a significant increase in price during a Bitcoin halving rally. Previous halving cycles have seen Bitcoin's price surge by at least 682%. The research note also highlights the growing institutional adoption of Bitcoin, citing recent spot Bitcoin ETF applications and positive remarks from BlackRock CEO Larry Fink. Shares of MicroStrategy have gained nearly 180% since the beginning of 2023, while the price of Bitcoin has increased by 84% since the start of the year.