The Bitcoin halving event could potentially benefit the stock price of payment company Block.

[Lemon]

Berenberg Capital Market analysts suggest in a report that the Bitcoin halving event scheduled for April 2024 is expected to stimulate a rise in BTC prices, which could potentially benefit Block's stock price. The report states that the correlation between Block's stock and Bitcoin prices is 0.61, with stocks like Coinbase and MicroStrategy having higher correlations with Bitcoin at 0.93 and 0.90, respectively.

Market data indicates that as of Thursday's closing in Eastern Time, Block's stock was priced at $45.39, down approximately 30% year-to-date. Berenberg has set a target price of $75 for Block's stock.