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Already a bull on MicroStrategy, Canaccord Genuity upped its value goal on the inventory to $400 from $372 following the earnings information. “We imagine the corporate’s comparatively conservative technique of retaining most of its holdings unencumbered has been prudent,” wrote analyst Joseph Vafi and crew. “Institutional traders are persevering with to work on their bitcoin and total digital-asset methods, in our view. As such, we anticipate to see continued mainstream adoption, which we imagine bodes nicely for the medium time period and helps our view that BTC is biased greater over time.”
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