According to online reports, Mizuho analysts led by Dan Dolev gave MicroStrategy shares an outperform rating, believing that they still have more than 50% room to rise and set their target price at US$515. Mizuho analysts believe that MicroStrategy's corporate structure distinguishes it from Bitcoin exchange-traded funds and cryptocurrency itself. Its existence as an operating company allows it to enter the debt and equity capital markets to raise funds to purchase incremental bitcoins. Coupled with the expected rise in Bitcoin prices, MicroStrategy's Bitcoin holdings are 75% higher than its base value, allowing it to increase its Bitcoin holdings faster than shares diluted by capital market activities. Moreover, MicroStrategy's debt costs are significantly lower than ordinary traders.