Strategy Inc. (MSTR) Eyes More Bitcoin Purchase on 620 million Injection

Strategy Inc. (NASDAQ:MSTR) is one of the best cryptocurrency stocks to buy for the long term. On November 11, TD Cowen analyst Lance Vitanza reiterated a Buy rating on Strategy Inc. (NASDAQ:MSTR) and a $535 price target. The positive stance follows the company’s successful IPO of Euro-denominated preferred stock.

The public offering, which exceeded expectations, ultimately raised €620 million. The capital injection strengthens the company’s financial position, as it is expected to use the financing to purchase additional bitcoin, thereby strengthening its treasury without diluting common equity.

According to the analyst, the strategic expansion into the European market and the expected increase in Bitcoin assets affirm the company’s growth potential. Likewise, on November 10, the company purchased 487 Bitcoins for $49.9 million at an average price of $102,557 per bitcoin. The purchase has increased the company’s total holdings to 641,692 bitcoin acquired at an average price of $74,079 a coin. In addition, innovative financial maneuvers and market positioning affirm why the stock is a Buy.

Strategy Inc. (NASDAQ:MSTR) is an enterprise software company that provides AI-powered business intelligence and analytics software. It is also the largest corporate owner of Bitcoin, having adopted it as its primary treasury reserve asset.

While we acknowledge the potential of MSTR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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