Equity analysts from Benchmark and Bernstein have reaffirmed their buy ratings and high price targets for Strategy (MSTR), following the company’s report of a $5.9 billion loss on its Bitcoin holdings in Q1 2025.
The analysts emphasized Strategy’s ongoing focus on acquiring more Bitcoin, which has become its primary business since its shift from software development five years ago.
Benchmark’s senior research analyst in fintech and digital assets, Mark Palmer, noted that while over 70 public companies have emulated Strategy’s Bitcoin acquisition approach by adding Bitcoin to their balance sheets, “MSTR recently highlighted the strength of its first-mover advantage and its enhanced capacity to accelerate Bitcoin accumulation as its platform expands.”
