MicroStrategy Remains Top Bitcoin Proxy, Rejects Bearish Outlook, Says Benchmark

Investment firm Benchmark reaffirms its bullish stance on MicroStrategy (MSTR), identifying the company as the premier publicly-traded proxy for Bitcoin (BTC) exposure. In a recent note, the firm rejected prevailing negative narratives, maintaining a "Buy" rating and a $2,190 price target for MSTR shares. Benchmark's analysis highlights MicroStrategy's unique corporate strategy of aggressively accumulating Bitcoin on its balance sheet. The firm argues that this approach offers investors a superior and leveraged way to gain exposure to Bitcoin's potential upside compared to direct ownership or other ETFs. The report emphasizes confidence in the long-term thesis despite short-term market volatility, directly countering what it labels as overly pessimistic "doom" scenarios. This endorsement underscores the growing institutional view of MicroStrategy as a key equity gateway to the cryptocurrency market.