Jason Calacanis on Strategy’s Stock

Prominent American angel investor and entrepreneur Jason Calacanis has predicted that $180 would be a “generous” price target for MicroStrategy (MSTR) based on the level of risk associated with its debt load.

The 54-year-old entrepreneur emphasized that the stock is in “uncharted territory.”

> “No one has ever bought imaginary money with massive debt, nor has anyone cornered the market on Bitcoin at this level,” Calacanis stated.

As reported by U.Today, Calacanis recently predicted that Strategy’s Bitcoin investment would fail this year, suggesting that the company should be trading at a discount to its net asset value (NAV).

The shares of MicroStrategy dropped nearly 6% on Monday, reducing the company’s market cap to just $71 billion. Furthermore, MSTR experienced an additional 4% decline in pre-market trading.

Meanwhile, Bitcoin’s price fell below the $90,000 mark, reaching an intraday low of $88,614.

The company is approaching 500,000 BTC in total holdings. After its recent $2 billion purchase, MicroStrategy’s average purchasing price now stands at $66,357.