"MicroStrategy's Saylor Continues Bitcoin Buying Spree, Stock Surges"

Investment banking firm Benchmark initiates coverage of MicroStrategy with a buy rating and a $990 price target, citing the company's unique business model based on the acquisition and holding of bitcoin. The valuation is based on an assumption that bitcoin will reach $125,000 by the end of 2025, with the upcoming halving and the launch of spot bitcoin ETFs seen as potential drivers for the cryptocurrency's price. MicroStrategy's software business provides additional cash flow for acquiring more bitcoin, and the company recently purchased an additional 3,000 tokens, bringing its total holdings to 193,000 coins.