Shares of MicroStrategy Inc. looked set to extend their bounce on Monday, after Benchmark analyst Mark Palmer raised his price target to the highest on Wall Street, saying the ability of the company to create shareholder value through its bitcoin purchases is being undervalued.

Michael Saylor explains that MicroStrategy's MSTR stock adds value to Bitcoin just as oil companies gain value by refining oil to gasoline.

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.