Michael Saylor’s MicroStrategy is back in the news and trading at a 25-year high. The latest data from TradingView shows MicroStrategy (MSTR) hitting $235.89 on Thursday’s session. On October 25, the company’s share price increased by over 7%. MicroStrategy’s price action last Thursday continued a six-week rally and came ahead of its scheduled third-quarter earnings report.

The company’s stock performance this week reflected the company’s steady growth over the past few years. MicroStrategy has outperformed most of its S&P 500 competitors and even outperformed Microsoft’s growth since 1999. According to observers, MicroStrategy is bullish, and market analysts indicate that the next target for the company’s shares will be $245.

MicroStrategy continues its focus on Bitcoin

MicroStrategy, a Virginia-based Bitcoin development company, is currently the world’s largest corporate holder of Bitcoin, holding 252,222 BTC. At Bitcoin’s current price of $67,392, the company has assets worth over $17 billion.

MicroStrategy Stock Hits New Highs

Shares of MicroStrategy (MSTR) rose over 7% to a 25-year high of $236, with a current market cap of $47 billion, surpassing Microsoft as the all-time share gainer.

Since Bitcoin’s adoption as a treasury asset in 2020, MicroStrategy’s stock has soared… pic.twitter.com/cyXS0KODCD

— Wolf of all streets (@scottmelker) October 25, 2024

Initially, the company developed software to analyze external and internal data to aid in decision making, and its main competitors were IBM Cognos, Oracle Corporation’s BI platform, and SAP AG business objects. However, in August 2020, the company changed its business model to focus on Bitcoin. The company raised $4.25 billion from its stock offerings, underpinning the growth of its Bitcoin holdings.

MicroStrategy’s Bitcoin plan also has its costs

As part of his Bitcoin plan, he tries to buy BTC at every opportunity. For the most part, Saylor’s strategy turned out to be a success. However, the Bitcoin-centric business plan came at a cost, and Saylor gained some naysayers and naysayers along the way.

For example, the company expanded its convertible note offering to raise funds to buy more Bitcoin. However, most of these bonds do not mature until 2032. Some market observers also say that MicroStrategy is in a challenging situation, especially during a market downturn. Since the company is based on Bitcoin, the company’s future depends on the extreme volatility of cryptocurrencies. While most of the criticism is valid, Michael Saylor remains defiant and has since doubled his BTC investments.

Hey @SatyaNadellaif you want to make another trillion dollars $MSFT shareholders, call me. pic.twitter.com/NPnVvL7Wmj

— Michael Saylor⚡️ (@saylor) October 25, 2024

The next target for MicroStrategy is $245

Market observers are now bullish about Saylor’s company. According to Mark Palmer, the company’s shares have achieved a profitability of 17.8% since the launch of the Bitcoin strategy. Palmer and other analysts are currently targeting a price of $245 to address this surge and increased sentiment. Palmer adds that the company’s share price has increased 1,600% over the past four years and further gains are possible.

It also helps that Michael Saylor has remained steadfast in his vision and passion for Bitcoin. In a recent post on Twitter/X, MicroStrategy’s executive chairman hinted at the company’s next move and reached out to Microsoft’s Satya Nadella.

Featured image from Dall.E, chart from TradingView