12 Crypto Stocks with the Biggest Upside Potential

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6. MicroStrategy Incorporated (NASDAQ:MSTR)

Analyst Upside: 34.64%

MicroStrategy Incorporated (NASDAQ:MSTR) engages in the development of the Bitcoin network through its operations in technology, financial markets, and advocacy. It is the world’s largest corporate holder of Bitcoin. By December 15, 2024, the company and its subsidiaries held approximately 439,000 bitcoins, acquired for a total of $27.1 billion at an average cost of $61,725 per bitcoin, including expenses. On December 16, 2024, the company reported purchasing around 15,350 bitcoins between December 9 and December 15, 2024, for approximately $1.5 billion, averaging $100,386 per bitcoin, including fees.

As a result, the company now calls itself the world’s first and largest Bitcoin treasury company. It has adopted Bitcoin as its primary treasury reserve asset and is continuing to strategically accumulate Bitcoin and advocate for its role as digital capital by using proceeds from its equity and debt financings and cash flows from its operations. On December 14, Nasdaq announced that MicroStrategy Incorporated (NASDAQ:MSTR) along with two other companies will be added to the Nasdaq-100 Index, effective before the market opens on December 23, 2024.

In its fiscal Q3 2024 earnings, the company announced an ambitious capital market strategic plan for the next three years, 2025-2027. It aims to raise $42 billion in capital, consisting of $21 billion in fixed-income capital and $21 billion in equity capital, primarily to acquire Bitcoin. MicroStrategy Incorporated (NASDAQ:MSTR) thus ranks first among the 10 companies hoarding Bitcoin like there’s no tomorrow.

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