• Analysts at Berenberg see upside potential for MicroStrategy at $340.
• They clarify their bullish view in a latest analysis be aware.
• Solely Berenberg’s Coinbase inventory is rated ‘Maintain’.

Based on Berenberg analysts, MicroStrategy is a greater cryptocurrency publicity than Coinbase International.

MicroStrategy Inventory Has $340 Upside

Mark Palmer and Hassan Saleem see upside for expertise corporations at $340 per share, with an extra 20% upside. In a latest analysis be aware, they mentioned:

MicroStrategy contains a distinctive enterprise mannequin centered on buying and holding Bitcoin, making it a gorgeous different to Coinbase within the present surroundings.

On the time of writing, Nasdaq-listed corporations maintain a complete of round 140,000 BTC. In early Could, MicroStrategy introduced that it had written down $170 million in bitcoin holdings within the first quarter.

The corporate’s inventory has practically doubled for the reason that starting of the 12 months.

Why is Berenberg a dove on Coinbase shares?

On Coinbase, Berenberg analysts fee the inventory as “maintain” with a worth goal of $55 per share, which is roughly according to the present buying and selling worth.

Their dovishness is essentially on account of ongoing regulatory scrutiny. In March, the cryptocurrency trade acquired a “Wells Discover” from the U.S. Securities and Trade Fee (SEC).

Coinbase’s earnings are in danger if enforcement motion is taken that ends in a disproportionate achieve relative to whole earnings.

As compared, MicroStrategy focuses on Bitcoin, which is already categorized as a commodity somewhat than a safety, thereby isolating Bitcoin from such dangers. The correlation between MSTR and COIN is at the moment round 0.96.