KBW Starts Strategy Coverage With Outperform, Says Firm Offers Leveraged Bitcoin Exposure

Description

Strategy (MSTR), the company formerly known as MicroStrategy, is an appealing investment for equity investors looking for levered bitcoin (BTC) exposure, investment bank KBW said in a research report Thursday. KBW assumed coverage of Strategy with an outperform rating and a $560 price target. The shares were 1% higher at around $329 in early trading. Once Strategy, the company co-founded by Michael Saylor, adopts the Financial Accounting Standards Board (FASB) updated accounting treatment for bi...