Microstrategy Inc. has announced that it will release quarterly updates on its Bitcoin holdings, even though the company has reported losses due to its Bitcoin-related investments. The decision reflects the company’s long-term view on its Bitcoin investments.
TD Cowen, a financial services firm, has just released a bullish report on Bitcoin and Microstrategy’s investments. The report claims the crypto is “poised for long-term growth” and recommends investors take part in the upside potential.
TD Cowen analysts have published a bullish report on Bitcoin and its ability to offer diversification benefits for investors. The report also voiced optimism about Microstrategy’s strategic investments in the asset.
Microstrategy, a business intelligence firm, is preparing to sell stock to buy up to $750 million in Bitcoin. The firm’s CEO has said that Bitcoin is the “best store of value.
Asian stocks opened mixed Monday, with Bitcoin up over 4% to $30,320 after Microstrategy’s filing for up to $400 million in debt to buy more cryptocurrency and despite Fitch’s downgrade of US Treasury credit rating.