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TD Cowen: If spot Bitcoin ETF is approved, MicroStrategy stock premium may decrease by 15% to 25%

TD Cowen: If spot Bitcoin ETF is approved, MicroStrategy stock premium may decrease by 15% to 25%

CointimeCointime2023/11/01 19:00
By:Cointime

TD Cowen analyst Lance Vitanza estimates that MicroStrategy's stock price is about 30% higher than its enterprise value due to its holding of 158,245 bitcoins as of September. He said that if the SEC approves a bitcoin ETF in the coming months, the premium may decrease by 15% to 25%. Vitanza gave MicroStrategy a "outperform" rating and said that the premium would decrease but not to zero.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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