Top investment analyst predicts 30% surge in 'trailblazing' crypto stock

The Street Crypto
The Street Crypto
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STRK-3.19%
XRP-0.57%

Strategy (Nasdaq: MSTR), formerly MicroStrategy, continued Bitcoin shopping and reported holding 632,457 BTC earlier this week.

Though the largest public Bitcoin treasury firm, its stock is down 13% over the last month. But there is an analyst who is very bullish on the stock.

Joe Vafi, analyst at the investment banking and wealth management giant Canaccord Genuity, reiterated a "Buy" rating on MSTR with a price target of $464.

The stock, which closed at $351.36 on Aug. 26, needs to surge 32% to reach Vafi's target.

MicroStrategy's preferred stock offerings

The Canaccord Genuity analyst cited MicroStrategy's launch of four preferred stock offerings this year:

  • 10.00% Series A Perpetual Stride Preferred Stock (STRD)
  • 8.00% Series A Perpetual Strike Preferred Stock (STRK)
  • 10.00% Series A Perpetual Strife Preferred Stock (STRF)
  • Variable Rate Series A...
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