Key facts: Cantor Fitzgerald lowers MicroStrategy target; Bitcoin shares moved
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- Cantor Fitzgerald cut its 12-month price target for MicroStrategy (MSTR) from $560 to $229, but keeps a 'buy' rating. The firm noted sufficient cash for 21 months of dividends.1
- MicroStrategy's affiliate moved 1.47 million Bitcoin shares worth about $273 million to Fidelity, sparking investor concerns over potential selloffs based on past trends.2
- MicroStrategy CEO Michael Saylor presented at Binance Blockchain Week in Dubai, discussing Bitcoin's institutional adoption and comparing its trading power and energy use to major firms.3