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"KBW Initiates Coverage of Strategy: Bitcoin Play for S&P 500 Eligibility"

Coin WorldFriday, Feb 7, 2025 9:07 am ET
1min read

Investment bank KBW has initiated coverage of Strategy, formerly known as MicroStrategy, with an "Outperform" rating and a target price of $560. According to a research report released by KBW, the company is expected to adopt the latest FASB accounting standards in the first quarter of 2025, which could potentially make it eligible for inclusion in the S&P 500 index. One of the key inclusion criteria for the index is that the most recent quarter and the past four quarters have a positive net profit.

As a publicly traded company holding the largest amount of Bitcoin reserves, Strategy is poised to earn on-chain revenue through Bitcoin network applications in the future. This strategic move could further enhance the company's financial position and potentially drive its stock price higher, as indicated by KBW's target price.

The initiation of coverage by KBW comes at a time when the cryptocurrency market is experiencing significant growth and innovation. Other recent developments in the industry include DeepSeek's unveiling of the Burst AI bubble, which could have both positive and negative implications for crypto AI, and Virtuals' launch of a partner network that allows X accounts to connect to the AIXBT terminal for additional interaction.

As the market continues to evolve, investors and analysts alike are keeping a close eye on key market insights and trends. The on-chain detective continues to monitor the market, providing valuable insights into the latest developments and helping investors make informed decisions.

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Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.
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