Strategy Buys 520 BTC for $35M, Boosts Cash Reserve to $1.4B on June 22

BTC-3.38%
According to Benchmark Equity Research analyst Mark Palmer, Strategy (formerly MicroStrategy, Nasdaq: MSTR) announced on June 22 that it purchased 520 Bitcoin (BTC) for $35 million, sold $335.5 million worth of MSTR shares, and increased its U.S. dollar reserve to $1.4 billion. Palmer reiterated a Buy rating and $570 price target for MSTR stock, representing over 400% upside from the June 22 close of $109.46.
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