Strategy (NASDAQ: MSTR) Analysts See 260% Upside As Bitcoin Adoption Drive Intensifies
Wall Street remains broadly bullish on Strategy, formerly MicroStrategy (NASDAQ: MSTR), even as the stock has endured a brutal stretch tied closely to Bitcoin’s prolonged decline. The 24/7 Wall St. price. . .
Wall Street remains broadly bullish on Strategy, formerly MicroStrategy (NASDAQ: MSTR), even as the stock has endured a brutal stretch tied closely to Bitcoin’s prolonged decline. The 24/7 Wall St. price target for MSTR stands at $338. 56, implying 260. 05% upside from a current price of $94. 03, with a buy recommendation and a moderate 50% confidence level. MSTR has fallen 79. 37% over the past year, 38. 12% year to date, and 23. 43% over the past month, sitting just above its 52-week low of $81. 81 and far below its $454. 33 high. Bitcoin itself is down 46. 63% over the same one-year period, trading at $63,658. 88, creating a compounding headwind for a company whose entire equity thesis is built around BTC accumulation. Q1 2026 results showed an EPS of -$38. 25 against a -$18. 98 estimate, reflecting a $14. 46 billion unrealized Bitcoin mark, while subscription revenue surged to $58. 88 million during the period. Strategy now holds 818,334 BTC after raising $11. 68 billion year to date, and management has authorized $2 billion in buybacks under what the company calls its Digital Credit Capital Framework. CEO Phong Le has reinforced the company’s conviction, stating: “Adoption of Bitcoin continues to grow in 2026. Digital Credit, highlighted by STRC, has been a big success. ”The STRC preferred instrument has scaled to an $8. 5 billion market cap in just nine months, adding another layer of capital-raising capacity to an already heavily leveraged balance sheet. Benchmark Equity Research reiterated its Buy rating on MSTR, and 13 of the 14 analysts currently covering the stock rate it a Buy, with a consensus price target of $303. 64. The bull case scenario projects a price of $488. 25, powered by Bitcoin recovering toward prior highs and MSTR’s leveraged beta of 3. 545 amplifying any upward move in the underlying asset. On the risk side, MSTR carries $8. 17 billion in long-term debt and $229. 53 million in quarterly preferred dividends, with only $2. 21 billion in cash available to service those obligations. Polymarket currently assigns a 36% probability to MSTR being removed from the MSCI index by year-end, and a Rosen Law Firm investigation adds further legal uncertainty to the picture. The bear case price target sits at $259. 08, though analysts warn that forced deleveraging or a prolonged Bitcoin drawdown could drive outcomes well below that floor. By comparison, Coinbase (NASDAQ: COIN) posted $1. 41 billion in Q1 revenue, down 30. 54% year over year, at a market cap of $35. 7 billion, just slightly above MSTR’s $34. 4 billion valuation. MARA Holdings (NASDAQ: MARA), a Bitcoin mining peer with a $4. 35 billion market cap, carries a price-to-book ratio of 1. 25, compared to MSTR’s 0. 91, meaning Strategy trades below book value on its Bitcoin-heavy balance sheet. That discount to book value, combined with near-unanimous analyst conviction, forms the core of the $338. 56 price target and the buy recommendation that accompanies it. Looking further ahead, the 24/7 Wall St. model projects MSTR could reach $725 by 2028, $1,650 by 2029, and $3,100 by 2030, assuming Bitcoin resumes its long-term uptrend and Strategy avoids forced deleveraging. Those longer-range projections carry substantial execution risk tied to BTC price levels, MSCI index inclusion status, and the sustainability of the company’s preferred dividend structure over time.