Shortly
- Analysts are still optimistic about Strategy (MSTR), despite its Q1 share price decline of 16.49 dollars.
- Bernstein and Benchmark have both set price goals of at least $600 per share.
- MSTR’s share price closed at $394.37 on Friday, up by 3.35%.
Benchmark and Bernstein, two investment firms, reiterated buy ratings and high price targets for Strategy(MSTR) a day following the announcement by MSTR that they had suffered a $5.9bn loss on their Bitcoin holdings during its first quarter in 2025.
Analysts highlighted Strategy’s strategy of purchasing more Bitcoin, a business that has now become the core activity for this company after it shifted from software development five years ago.
“While the number of companies that have sought to replicate Strategy’s (MSTR) Bitcoin acquisition strategy has continued to grow rapidly, with more than 70 public companies having followed its lead by adding Bitcoin to their balance sheets,” Mark Palmer, Benchmark senior research analyst–fintech and digital assets wrote, “MSTR yesterday issued a reminder of the extent of its first-mover advantage and how its ability to accelerate its accumulation of Bitcoin has continued to increase as its platform has scaled.”
On Thursday, Strategy reported a decline of $16.49 per common share in the first quarter of 2025—a result of Bitcoin’s price plunge during the span. In the earnings call on Thursday, the company reported that it had faced similar macroeconomic challenges as other tech and crypto firms.
Strategy, who in 2020 shifted from software development and focused on accumulating Bitcoin to owning around 554,000 BTC valued at approximately $53 billion according to current prices, currently has about 554 000 BTC. As of April 28, the company bought its Bitcoin for an average price of $68,459
Tysons Corner Virginia-based firm is now in the final phase of an initiative it Last October to purchase $42 billion Bitcoin through these methods, and unveiled a new “42/42 Plan to acquire an additional $42 billion in Bitcoin through 2027," Palmer noted.
Palmer stated that the company plans to raise $84 billion ($42 billion equity, and $42billion in fixed-income) by 2027 in order to finance Bitcoin purchases. MSTR’s $84 Billion capital-raising goal includes $42 Billion of its original plan. It is currently 65% done with $14.7 Billion remaining.
Benchmark has set a $650 price target for Strategy (MSTR) shares, using analysis including the projected BTC value, the 15x gain in BTC dollars, and projected software value.
The shares of Strategy rose 3.3% to $394.37 on Friday. They have gained more than 26.5% over the last month. Most of these gains occurred in recent weeks. MSTR’s share price has risen by more than 36% in the past year. On Thursday, just before earnings were released, it was within one dollar of its peak 2025 price.
Bitcoin has been trading around $96,700 for the last few days, essentially flat. BTC has gained 14% during the past month due to a recovery in the digital asset market that reclaimed ground from January until March.
Palmer, in reiterating his buy recommendation on MSTR shares, wrote: “MSTR currently trades at 2,13x its Net Asset Value. This is a level we consider attractive because the company has demonstrated its ability to create value for shareholders through its treasury operation.”
In a note published on Friday, Bernstein analysts assigned a price of $600 to Strategy. The firm highlighted the addition of 10 billion dollars in Bitcoin as well as scaling its “capital programme to 42.42 from 21.21.”
The analysts noted that MSTR continued to be valued at a higher price than its Bitcoin Net Asset Value.
Bernstein stated that “we continue to value Strategy by using the sum of parts approach. We combine enterprise value for its software business with its Bitcoin holdings.”
Andrew Hayward is the editor
