CJ- Cryptocurrency Enthusiast
Despite the bear market, three out of four Wall Street analysts are still optimistic about MicroStrategy, according to a Bloomberg report. Michael Saylor, the CEO of MicroStrategy, had spent around $4 billion to purchase Bitcoin as of March 31.
According to the research, these analysts advise purchasing MicroStrategy shares with an average price target that is greater than three times where the company ended trading on June 22.
Mark Palmer of BTIG, the most optimistic of the four analysts, set a price objective of $950 for MicroStrategy. Palmer talked about the advantages MicroStrategy provided investors, besides exposure to Bitcoin.
MicroStrategy specifically provides equity investors with access to Bitcoin investment, which they now lack many efficient ways to acquire. The company also offers a functioning business that generates revenue that can be used to buy Bitcoin.
With a $180 price target on MicroStrategy, Jefferies Senior Analyst Brent Thill was the most pessimistic of the analysts. Thill, on the other hand, made a statement about how the management team of MicroStrategy needs to concentrate more on the company's core software business, which fell 3 percent in the first quarter of 2022.
Currently, from the start of 2022, shares of MicroStrategy have decreased by 69%. This is due to the recent declines in both tech stocks and Bitcoin price this year. The 69% decrease in MicroStrategy is more than the 29% and 55% drops in the Nasdaq 100 Index and Bitcoin, respectively.
Despite this disaster, Michael Saylor is still upbeat about MicroStrategy's Bitcoin plan. The company even faces the prospect of having to make a margin call payment on a $205 million loan it obtained to purchase Bitcoins. In response, Saylor reassured investors that the company had enough of collateral available to pledge.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards