MicroStrategy Shares Offer Better Exposure to Crypto Than Coinbase: Berenberg

MicroStrategy (MSTR) represents an attractive alternative to Coinbase (COIN) for investors looking to gain exposure to the cryptocurrency sector, Germany investment bank Berenberg said in a report Monday. Investors who are very bearish on Coinbase shares and are inclined to short the stock should look at pairing it with long MicroStrategy, the report said, noting that the correlation between the two stocks since Coinbase went public via a direct listing in April 2021 is 0.96. Microstrategy currently holds 140,000 BTC worth around $3.8 billion at current prices. MicroStrategy is buy-rated with a $340 price target.

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