TLDR Tech / Crypto
Bernstein Says Bitcoin's Bottom Strengthens Strategy Bull Case
Strategy's resilience now hinges less on short-term bitcoin volatility and more on its shift toward perpetual preferred instruments like STRC, which provide permanent, non-dilutive capital and helped fund aggressive BTC accumulation through the downturn. That matters because the firm sees bitcoin's cycle bottom as already in place, making Strategy's 762,099 BTC treasury and below-history NAV premium a leveraged way to play further upside. Bernstein maintains a $450 price target and a $150,000 bitcoin forecast for year-end 2026.
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