Analyst: Bitcoin will rise to more than $90,000 in a bull market scenario, MicroStrategy stock price rises to $2,700

BTIG analysts say that due to a large bet on Bitcoin, MicroStrategy Inc.'s stock price has soared by 150%. With the surge in cryptocurrency, there is further room for MicroStrategy Inc.'s stock price to rise. Analyst Andrew Harte raised his target price to $1,800 on Friday, which means the stock could rise at least another 10% from recent trading.

Harte further analyzed the upside and downside of MicroStrategy, saying that if the premium shrinks and regulatory pressure hits the cryptocurrency market, the stock price could fall to $700 and push Bitcoin to $48,000. However, in a bull market, Bitcoin could soar to over $90,000, and the company's holding premium would rise, indicating a stock price of $2,700, up nearly 70% from current trading.