'All I Want For Christmas Is Bitcoin': Canaccord Genuity Raises Price Target For Michael Saylor's Microstrategy After Company Adds $615M Worth Of BTC
'All I Want For Christmas Is Bitcoin': Canaccord Genuity Raises Price Target For Michael Saylor's Microstrategy After Company Adds $615M Worth Of BTC
MicroStrategy Inc (NASDAQ:MSTR), on Wednesday, increased its Bitcoin (CRYPTO: BTC) reserves. The business intelligence company invested $615.7 million to acquire an additional 14,620 BTC. Executive Chairman Michael Saylor said on X that the purchase price for this batch of Bitcoin averaged $42,110 per unit.
微策略公司（纳斯达克股票代码：MSTR）周三增加了其比特币（加密货币：BTC）储备。这家商业智能公司投资了6.157亿美元，额外收购了14,620个比特币。执行主席迈克尔·塞勒在X上表示，这批比特币的购买价格平均为每单位42,110美元。
What Happened: The report headlined, "All I want for Christmas is Bitcoin: MSTR purchases another $616mm of BTC in December; upping price target" by Canaccord Genuity Corp said Bitcoin saw a 16% surge over the last month and 41% over the past six months, which has been eclipsed by the performance of MicroStrategy's stock.
发生了什么：Canaccord Genuity Corp的报告标题是 “圣诞节我想要的只是比特币：MSTR在12月又购买了6.16亿美元的比特币；上调了目标股价”。该公司表示，比特币在上个月上涨了16％，在过去六个月中上涨了41％，微策略的股票表现使这一比例黯然失色。
The company's shares have surged by 29% in a single month and 119% over half a year.
该公司的股价在一个月内飙升了29％，在半年内飙升了119％。
Premium Placing on MSTR Shares
MSTR 股票的优先配售
MicroStrategy's proactive approach in accumulating Bitcoin has caused its share price to outstrip the value of its Bitcoin holdings. "Importantly, as MSTR shares continue to appreciate faster than the company's underlying BTC HODL, the premium at which the stock trades to underlying spot also increases. We now estimate MSTR shares to trade at ~36% to Bitcoin," the analyst note read.
MicroStrategy积极积累比特币的方法导致其股价超过了其持有的比特币的价值。“重要的是，随着MSTR股票的升值速度继续快于公司的标的BTC HODL，股票交易到标的现货的溢价也有所增加。我们现在估计，MSTR股票对比特币的交易价格约为36％，” 分析师报告写道。
Relative Scarcity of MSTR Shares
MSTR 股票相对稀缺
Analysts highlight a scarcity premium attached to MSTR shares as investors seek Bitcoin exposure with comparably lower operational risk.
分析师强调，随着投资者寻求运营风险相对较低的比特币敞口，MSTR股票面临稀缺性溢价。
Unlike crypto exchanges or bitcoin mining companies, MicroStrategy's primarily software-driven business model, characterized as "sticky, highly recurring, and cash flow rich," presents a safer bet for investors. As a result, the company's business intelligence software equates to less than 15% of the enterprise value—now dominated by its considerable Bitcoin portfolio.
与加密货币交易所或比特币矿业公司不同，MicroStrategy主要由软件驱动的商业模式，其特征是 “粘性、高度经常性和现金流丰富”，为投资者提供了更安全的选择。结果，该公司的商业智能软件相当于企业价值的不到15％，现在由其庞大的比特币投资组合主导。
Expansion of MicroStrategy's Bitcoin Holdings
扩大 MicroStrategy 的比特币持有量
The November and December trading period was marked by robust trading volumes and a consistent implicit valuation premium in MSTR shares relative to the underlying Bitcoin assets. "As a result, the company exploited this window to materially and accretively add to its HODL," the note added.
11月和12月交易期的特点是交易量强劲，相对于标的比特币资产，MSTR股票的隐含估值溢价持续存在。该报告补充说：“结果，该公司利用这一窗口，大幅增加其HODL。”
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Analyst Upgrades MSTR Price Target
分析师上调了MSTR的目标股价
Canaccord Genuity Corp Analysts have revised their MSTR price target to $791.
Canaccord Genuity Corp分析师已将MSTR的目标股价上调至791美元。
Price Action: At the time of writing, MSTR was trading at $670, up 11.03% on Wednesday, according to Benzinga Pro.
价格走势：根据Benzinga Pro的数据，在撰写本文时，MSTR的交易价格为670美元，周三上涨11.03％。
Photo by JOCA_PH on Shutterstock
照片由 JOCA_PH 在 Shutterstock 上拍摄
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