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Crypto World News reports that investment bank BTIG has reiterated its "Buy" rating on MicroStrategy Incorporated (Nasdaq: MSTR) stock and set a target price of $350, reflecting confidence in its Bitcoin strategy. Although MicroStrategy reported $124.3 million in revenue and a net loss of $12.54 billion in the first quarter, and disclosed an unrealized loss of $14.46 billion related to Bitcoin holdings, BTIG remains one of the most bullish institutions covering the company. Several Wall Street analysts have recently updated their outlooks on MSTR, with target prices ranging from $175 to $350. MicroStrategy currently holds 818,334 Bitcoins, with an average purchase price of approximately $75,537, and management stated that Bitcoin holdings have increased by 22% year-over-year.