- MicroStrategy stock fell despite price target hikes from Wall Street firms like Canaccord and TD Cowen.
- Bitcoin slipped below $81,000 after a rally pushed it above $82,000 for the first time in three months.
- Retail traders debated whether CEO Michael Saylor signaled a shift from the firm’s “buy and hold” Bitcoin philosophy.
Retail traders on Stocktwits debated Thursday whether MicroStrategy CEO Michael Saylor may eventually sell Bitcoin holdings after his comments during the company’s Q1 earnings call. Consequently, MSTR shares fell in pre-market trading even as Bitcoin’s price dipped below $81,000.
Wall Street firms raised their price targets on MSTR, however, with Canaccord boosting its target to $224 citing the firm’s handling of Bitcoin volatility. TD Cowen also increased its target to $395, according to a note to investors cited by TheFly. Meanwhile, Benchmark lowered its target to $570 while maintaining a ‘Buy’ rating.
Saylor suggested the company might sell some Bitcoin if it improves “Bitcoin per share” metrics or strengthens its capital structure. This stance marked a notable shift from the firm’s long-standing aggressive accumulation strategy. Some traders questioned whether sales had already begun, though no formal announcement exists.
Other retail traders argued the stock pullback represented a buying opportunity ahead of another potential Bitcoin rally. MSTR’s stock has gained over 20% this year, while Bitcoin’s price has fallen over 8%.
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