Strategy Continues Aggressive Bitcoin Push Despite Price Target Adjustments
Analysts have adjusted the stock price target for Michael Saylor's company, now known as Strategy (NASDAQ: MSTR), despite its continued aggressive strategy to increase its Bitcoin holdings. The company also announced that its fourth-quarter earnings for 2025 will be reported on February 5, following the market's closing bell.
The year 2026 has begun positively for Strategy. On January 7, the company avoided potential delisting after MSCI announced it would not exclude digital asset treasuries (DATs) from its indices. A DAT company is defined as one that hoards crypto assets to add to its corporate balance sheet, similar to how other public companies hold cash. Strategy, which originally started as a software company, transformed into a Bitcoin-focused DAT during the pandemic and is now the largest corporate holder of Bitcoin. As of January 15, its Bitcoin treasury comprises 687,410 BTC.
Between January 5 and January 11, Strategy executed its largest Bitcoin purchase since July 2025, acquiring 13,627 BTC for $1.25 billion. In a recent podcast appearance, Michael Saylor reiterated the company's commitment to purchasing Bitcoin amidst a growing number of companies holding Bitcoin on their balance sheets.
"Everybody in the world can buy Bitcoin as part of their investment, but not everybody's going to have as much as me."
Analyst Concerns Regarding Near-Term Pressure
TD Cowen recently lowered its price target for Strategy from $500 to $440, while maintaining a "buy" rating, according to a report on January 14. This marks the second price target revision by TD Cowen for MSTR in two months; previously, on December 4, the firm had reduced the target from $550 to $500.
The firm's analysts, Lance Vitanza and Jonnathan Navarrete, cited near-term pressure on key performance metrics resulting from recent weakness in Bitcoin's price. In a research note dated January 14, TD Cowen analysts stated that Strategy "has not only survived this latest period of price compression; it has leaned into it."
According to TD Cowen, the revised stock price target takes into account the immediate effects of Strategy's accelerated Bitcoin accumulation on its financial modeling. The analysts emphasized that the company continued its Bitcoin purchases during the recent price dip, which is consistent with its long-term strategy.
Despite these adjustments, Strategy "remains attractive for those looking to create bitcoin exposure," the analysts wrote. They noted that while the stock recently approached a zero Bitcoin premium, the company chose to "move aggressively" to capitalize on what it perceives as a temporary downturn in the cryptocurrency's price.