MicroStrategy and other crypto-related stocks were sliding on Tuesday after Bitcoin’s initial push toward $100,000 failed. Crypto exchange Coinbase Global dropped 3.1%, and online-trading platform Robinhood Markets was down 0.

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.

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.

MicroStrategy buys more bitcoin, and Benchmark analyst’s new Street-high stock price target implies more than 60% upside.

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