Strategy’s Bitcoin Engine Slows, But Analysts Say the Machine Is Still Built to Run
The post Strategy’s Bitcoin Engine Slows, But Analysts Say the Machine Is Still Built to Run appeared com. Bitcoin After two years of near-relentless accumulation, Strategy’s pace of bitcoin buying is cooling at least for now. The company’s latest quarterly figures revealed that its once-lofty valuation premium has thinned to its weakest point since early 2023. Yet despite that slowdown, analysts tracking the stock aren’t seeing red flags. Most argue the lull says more about market timing than about Strategy’s model itself a system built to convert Wall Street capital directly into Bitcoin exposure. Cooling Momentum, Rising Confidence The firm’s market premium to net asset value, or mNAV, currently sits near 1. 2x, suggesting investor enthusiasm has tempered as BTC consolidates around $110,000. Even so, Strategy shares jumped more than 5% on Friday, extending a recovery fueled by optimism over both market stability and upcoming macro catalysts. Analysts at Mizuho Securities remain bullish, calling the slowdown “a breather, not a breakdown.” They reiterated their Outperform rating and a $586 target, noting that Strategy’s BTC holdings have grown to over 640, 000 BTC roughly 3% of total global supply. What’s more, Mizuho estimates the firm’s Bitcoin yield sits near 26% for the year, on track to hit its internal 30% goal if prices stay firm. The research team projects Bitcoin could reach $150,000 by the end of 2025, which would translate to compound growth of roughly 25% over three years. “Access to capital markets and rising BTC prices remain the key levers,” Mizuho wrote. “With both in play, yield expansion looks sustainable.” A Credit Door Opens for Billions Other analysts are zeroing in on something far bigger than quarterly metrics: Strategy’s newfound credit access. TD Cowen’s research desk argues that the company’s recent B- rating from S&P could fundamentally change its funding capabilities. The rating makes Strategy eligible for participation in a $4. 9 trillion global credit pool, potentially. Continue reading Strategy’s Bitcoin Engine Slows, But Analysts Say the Machine Is Still Built to Run