• MicroStrategy shares have dropped by 69 percent since the beginning of 2022.
• This is due to the fact that both tech stocks and Bitcoin have recently dropped in value.
• Despite this, three out of four Wall Street analysts remain bullish on MicroStrategy’s Bitcoin strategy.

Despite the bad market, three out of four Wall Street analysts remain bullish on MicroStrategy. MicroStrategy CEO Michael Saylor has spent almost $4 billion on purchasing BTC.

According to the research, these analysts recommend buying MicroStrategy shares at a price objective that is more than quadruple where the company closed.

BTIG’s Mark Palmer was the most positive of the four analysts, with a price target of $950 on MicroStrategy. Palmer discussed the benefits that MicroStrategy offers investors in addition to exposure to Bitcoin.

Read More: MicroStrategy CEO Talks Crypto Market

“MicroStrategy provides equity investors in particular with not only exposure to Bitcoin, which currently they don’t have many efficient ways to access (…) The company also offers an operating business that generates cash with which to buy more Bitcoin.”

Meanwhile, Jefferies Senior Analyst Brent Thill is the most negative, with a price target of $180 on MicroStrategy. Thill, on the other hand, stated that MicroStrategy’s management team needs to concentrate more on the core software business, which was down 3% in the first quarter of 2022.

MicroStrategy shares have dropped by 69 percent since the beginning of 2022. This is due to the fact that both tech stocks and Bitcoin have recently dropped in value this year. The 69 percent collapse in MicroStrategy is more than the 29 percent reduction in the Nasdaq 100 Index and the 55 percent drop in Bitcoin.

Read More: MicroStrategy claims it has not received any loan margin calls

Despite the fall, Michael Saylor remains optimistic about MicroStrategy’s Bitcoin strategy. The corporation may possibly face a margin call on a $205 million loan used to purchase the company.