Bernstein: It is estimated that Strategy's Bitcoin holdings will increase to 1 million, and its stock price target has been raised to $600

Analysts from the research and brokerage firm Bernstein updated their stock price model for Strategy (formerly MicroStrategy) after the company announced its fourth quarter financial results and latest BTC acquisition news. In their latest report to clients, analysts rated Strategy as outperforming the market, with a target price increase of 75%, reaching $600.

According to Bernstein's bull market prediction, Strategy's Bitcoin holdings will increase by more than double, reaching about 5.8% of the current circulating supply of 19.8 million BTC, up from the current approximately 2.5%. This assumes that Strategy can significantly expand its Bitcoin acquisition plan while capital markets are more relaxed, interest rates are lower and the bull market cycle continues. Analysts say that under these circumstances, Strategy's debt (including preferred shares) will quickly grow from the current $11 billion to about $100 billion, with equity earnings reaching around $84 billion.

Analysts predict that Bitcoin will reach a cyclical peak of around $200,000 by the end of 2025, $500,000 by the end of 2029, and $1 million by the end of 2033. During this period, there will be intermittent bear markets lasting for one year.