According to ChainCatcher, analysts from Bernstein research and brokerage firm updated their stock price model for Strategy (formerly MicroStrategy) after the fourth-quarter financial results and the latest BTC acquisition news. In their latest report to clients, analysts set Strategy's rating as outperforming the market, with the target price increased by 75% to $600.

Based on Bernstein's bullish forecast, Strategy's Bitcoin holdings will more than double, reaching approximately 5.8% of the current 19.8 million BTC circulating supply, compared to the current 2.5%. This assumes Strategy can significantly expand its Bitcoin acquisition plan, with more relaxed capital markets, lower interest rates, and a continuing bull market cycle. Analysts stated that in this scenario, Strategy's debt (including preferred shares) would rapidly grow from the current $11 billion to around $100 billion, with equity earnings reaching approximately $84 billion.

Analysts expect Bitcoin to reach a cycle 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, with intermittent bear markets lasting about a year.