Strategy Inc. (MSTR) Bolsters Bitcoin Holdings after Shares Sale

Strategy Inc. (NASDAQ:MSTR) is one of the stocks with huge growth potential, according to the media. Between January 20 and 25, Strategy Inc. (NASDAQ:MSTR) sold 1,569 million shares of common stock. With the sale, the company generated $257 million in net proceeds. It also sold 70,201 shares of STRC stock, generating $7 million in net proceeds.

Strategy Inc. (MSTR) Bolsters Bitcoin Holdings after Shares Sale

It has already used the net proceeds to purchase 2,932 Bitcoin, taking advantage of the recent slump in the flagship crypto price. Strategy purchased Bitcoin at an average price of $90,061 for a total of $264.1 million. The company’s treasury has risen to 712,647 Bitcoin, valued at about $54.19 billion at an average price of $76,037.

The latest Bitcoin purchase comes on the heels of Mizuho reiterating an Outperform rating on the stock and cutting the price target to $403 from $484. The price target adjustment is in response to several political, macroeconomic, and product catalysts affecting the sector. Likewise, the research firm remains positive about the company’s long-term prospects in the evolving cryptocurrency landscape.

Strategy Inc. (NASDAQ:MSTR) is primarily a Bitcoin treasury company and an enterprise analytics software provider. It actively acquires and holds Bitcoin on its balance sheet, while also developing AI-powered BI tools for data visualization and cloud analytics.

While we acknowledge the potential of MSTR to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MSTR and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.