{"id":19898,"date":"2023-07-11T01:08:12","date_gmt":"2023-07-11T01:08:12","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/bitcoin-halving-bullish-for-saylors-microstrategy-berenberg-capital\/"},"modified":"2023-07-11T01:08:14","modified_gmt":"2023-07-11T01:08:14","slug":"bitcoin-halving-bullish-for-saylors-microstrategy-berenberg-capital","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/bitcoin-halving-bullish-for-saylors-microstrategy-berenberg-capital\/","title":{"rendered":"Bitcoin halving bullish for Saylor\u2019s MicroStrategy: Berenberg Capital"},"content":{"rendered":"
<\/p>\n
The upcoming Bitcoin (BTC) halving is set to blow fresh wind in the sails of Bitcoin-focused stocks such as Michael Saylor founded tech firm MicroStrategy.<\/p>\n
In a research note shared with Cointelegraph, New York-based investment firm Berenberg Capital Markets explained its reasons for a bullish outlook on MicroStrategy (MSTR), which Berenberg has given a $430 price target. <\/p>\n
According to the analysts, MicroStrategy derives the bulk of its value from the 152,333 Bitcoin it held on its books as of June 28, adding that a Bitcoin halving rally could see its shares gain significantly in price. <\/p>\n
\u201c[It] is our expectation that the price of Bitcoin will repeat its historical pattern of rallying both ahead of and following each Bitcoin halving.\u201d<\/p><\/blockquote>\n
The Bitcoin halving, which is scheduled for April 26, 2024, reduces the BTC issuance rate by 50%, significantly dampening the velocity at which new Bitcoin enters the crypto market.<\/p>\n
\nLast Bitcoin ETF decision deadline: 3\/19\/24<\/p>\n
Bitcoin halving estimate: 4\/16\/24<\/p>\n