ChainCatcher news, according to CoinDesk, Benchmark has raised the target price for MicroStrategy stock from $215 to $245. Analyst Mark Palmer believes that the company's Bitcoin holdings and software business value will continue to grow. He also considers the company's high stock price to be justified, as the value it provides is not just from holding a large amount of Bitcoin.

ChainCatcher news, Bloomberg's senior ETF analyst Eric Balchunas disclosed that T-Rex has applied for a 2x Microstrategy stock MSTR ETF, which is almost certain to become the most volatile ETF in U.S. history, with volatility likely around 20 times that of SPX.

ChainCatcher news, according to Cointelegraph, investment firm Kerrisdale Capital is shorting MicroStrategy stock, believing that its price has an "unfathomable premium" relative to the value of Bitcoin. Kerrisdale Capital's Chief Investment Officer Sahm Adrangi stated that MicroStrategy's business model primarily relies on holding a large amount of Bitcoin, but this is not enough to support its high valuation.According to their report, the Bitcoin price valuation of MicroStrategy stock is two and a half times the actual price. Adrangi recommends shorting MicroStrategy stock while going long on Bitcoin. MicroStrategy currently holds 226,331 BTC, with a total value of approximately $14.6 billion.

ChainCatcher news, according to Finbold, Hungarian-American billionaire and hedge fund manager George Soros disclosed his holdings in the 13F filing for the first quarter of 2024.As of the first quarter of 2024, Soros Fund Management has 193 positions, with a total value of approximately $6 billion. Major investments include Alphabet, AerCap Holdings, and Rivian.Notably, the fund also holds shares of MicroStrategy (NASDAQ: MSTR), valued at approximately $135 million.

ChainCatcher news, according to CNBC, MicroStrategy founder Michael Saylor signed a stock sale agreement with the company last year, allowing him to sell up to 400,000 shares before April of this year. The latest filings show that as of this week, over 90% of the plan has been completed (i.e., 370,000 shares sold), and Saylor has pocketed approximately $370 million.MicroStrategy's stock price has retreated over the past month, but after soaring 346% in 2023, it is still up more than 90% this year.

ChainCatcher news, according to CoinDesk, U.S. brokerage BTIG stated in a research report that MicroStrategy has a good track record of creating value for shareholders, reaffirming its buy rating on the stock and raising its target price from $780 to $1,800.Analysts Andrew Harte and Thomas Smith wrote that MicroStrategy's stock price has increased by 155% this year, primarily due to a 50% rise in Bitcoin prices, continuous financing, and the implied premium of MicroStrategy's Bitcoin holdings rising from about 1.5 times last year to over 2 times.The report stated that in the company's sum-of-the-parts (SOTP) valuation analysis, investors showed support for a higher implied Bitcoin premium, noting that although this premium has increased compared to historical levels, "investors have demonstrated a willingness to invest due to their optimism about the premium."

ChainCatcher news, the rise in Bitcoin prices has helped MicroStrategy's stock price increase by 180% year-to-date. According to data disclosed by S3 Partners, short sellers of MicroStrategy stock have lost approximately $3.3 billion year-to-date. If short sellers are forced to buy back shares to cover their losses, MicroStrategy's stock price may rise further and squeeze the short sellers.

ChainCatcher news, cryptocurrency-related stocks are fluctuating lower, MicroStrategy (MSTR) down over 13%, Marathon Digital (MARA) down over 8%, Riot Blockchain (RIOT) down over 9%, Coinbase (COIN) down over 1%.

According to ChainCatcher news, regulatory documents show that MicroStrategy founder Michael Saylor plans to sell 315,000 shares of MicroStrategy stock (MSTR), valued at approximately $216 million.This information was previously disclosed in November 2023 (currently officially public in the SEC Form 144), and Saylor will sell 5,000 shares of MSTR daily until April 25, 2024.

ChainCatcher news, according to CoinDesk, an ETF company YieldMax has filed documents with the U.S. Securities and Exchange Commission (SEC) to launch the first income-generating ETF product based on MicroStrategy stock, planned for release in 2024.If approved by the SEC, the ETF will trade on the stock market under the code "MSTY," differing by just one letter from MicroStrategy's existing code "MSTR."

ChainCatcher news, according to Cointelegraph, a company named YieldMax has applied to launch the first income ETF product based on the Bitcoin holdings of Michael Saylor's company MicroStrategy. According to the application documents submitted to the U.S. Securities and Exchange Commission (SEC) yesterday, the options income strategy ETF based on MicroStrategy stock is planned to be released sometime in 2024.If approved by the SEC, the ETF will trade under the ticker symbol "MSTY," which is only one letter different from MicroStrategy's existing ticker symbol "MSTR." YieldMax's pending ETF employs a "comprehensive covered call" strategy, which includes buying call options and selling put options to generate income. These earnings will be distributed as monthly payments to holders of the MSTY ETF.It is noteworthy that the ETF will never hold any spot shares of MicroStrategy, but will only generate income through trading MSTR derivatives. To limit potential losses, the fund will cap the monthly upside risk of the call options at 15%. The monthly yield generated by the ETF does not directly depend on the growth of MicroStrategy stock, meaning that even if MicroStrategy stock suffers significant setbacks, investors will still receive the yield from the ETF.

ChainCatcher news, Bank of America and Fidelity held a significant amount of MicroStrategy stock on their balance sheets in the first quarter, indicating that institutions remain interested in indirect Bitcoin exposure. As of the end of March, Bank of America reported purchasing 86,147 shares of MicroStrategy (MSTR) in the first quarter. According to a filing with the U.S. Securities and Exchange Commission, Fidelity increased its holdings by 97,199 shares during the same period.Since MicroStrategy began holding Bitcoin as a reserve on its balance sheet, the company's stock price has closely tracked the price of Bitcoin. Many traders still view this stock as one of the closest publicly traded proxies for Bitcoin spot exposure. As of April 4, MicroStrategy holds 140,000 Bitcoins.ChainCatcher previously reported that BofA Securities, Inc. and Fidelity Management & Research Company became two of the top 10 shareholders of MicroStrategy in the first quarter of 2023. (source link)