Bernstein analysts predict MicroStrategy will own 4% of the total bitcoin supply by the end of 2033, an amount they expect to be worth about $830 billion.

Concentration of Bitcoin ownership challenges the foundational idea of a decentralized cryptocurrency network.

Shares in MicroStrategy, the largest corporate holder of bitcoin, initially jumped and then fell Monday after the software company said it had bought $5.4 billion of the cryptocurrency.

MicroStrategy Inc. bought a record $5.4 billion in Bitcoin, the third major purchase announced this month by the crypto hedge fund proxy.

Bernstein analyst Gautam Chhugani, who boosted his price target on MicroStrategy by $310 to $600 a share in a note published Monday, sees the group as a principal beneficiary. Chhugani estimates MicroStrategy owns around 1.7% of global bitcoin and says could grow to 4% over the next decade in his base-case scenario.

MicroStrategy has made headlines with its largest Bitcoin purchase to date, acquiring 55,500 BTC between Nov. 18 and 24 for $5.4 billion.

For investors seeking exposure to Bitcoin ($BTC), buying MicroStrategy ($MSTR) stock can be a compelling alternative. My bullish outlook on MSTR

After a huge post-election rally, Bitcoin (CRYPTO: BTC) just hit another all-time high, and is on the cusp of breaking through the $100,000 mark for the first time ever. To answer that question, you first have to understand how MicroStrategy has fundamentally changed its business over the past few years.

MicroStrategy’s Bitcoin Strategy Keeps Making Headlines! Discover How Their Unwavering Commitment To Bitcoin Continues To Grow!