According to the Financial Times, the American financial institution Cantor Fitzgerald has significantly lowered the price target for Michael Saylor's company, Strategy, which holds a large amount of Bitcoin, but remains optimistic about the long-term prospects for cryptocurrency and downplays concerns about forced liquidation.
Reportedly, according to an analyst report obtained by the Financial Times on Thursday, Cantor Fitzgerald has cut the 12-month target price for Strategy's stock by 60%, from $560 to $229.
Despite the price target reduction, it is reported that Cantor's "buy" rating remains unchanged, as the bank points out that while the market is broadly concerned about the risk of forced liquidation that Strategy may face, such concerns are "unreasonable."
Cantor Fitzgerald's analysts stated that Strategy "has enough cash" to support 21 months of dividend payments. "Additionally, MSTR can still raise funds through equity instruments if necessary. Unless Bitcoin drops 90% from current levels, these concerns are unfounded."
However, Strategy's stock performance has significantly lagged behind the target previously set by Cantor. Cantor Fitzgerald is the company's ninth-largest shareholder.
According to Google Finance data, as of the time of writing, Strategy's stock price is approximately $186, down 27% over the past month and down 35% year-to-date.
Strategy's stock still faces short-term concerns, including the MSCI index threatening to exclude companies that hold digital assets exceeding 50% of their total assets.
If implemented, this could lead to "MSTR being forced to sell," but Cantor noted that this concern is "somewhat reasonable," constituting only "a short-term liquidity constraint."
Nevertheless, Cantor remains optimistic about the price momentum of Strategy and Bitcoin, stating that the current pullback is a "healthy" adjustment, as BTC is expected to surpass gold in market capitalization.
Other well-known analysts also predict that Bitcoin will eventually surpass gold in market capitalization. For example, Joe Burnett predicts that this development will push Bitcoin to over $1.8 million by 2035.
However, Bitcoin's price needs to increase about 16 times to surpass the value of the world's largest precious metal.
According to TradingView data, since the beginning of 2025, gold prices have risen by 58%, outperforming Bitcoin's 1.5% decline so far this year.
Related: Bitwise Chief Investment Officer says that even with falling stock prices, its funds do not need to sell Bitcoin (BTC) holdings.
Original article: “Cantor Cuts Strategy Target Price by 60%, Says Forced Sale Concerns Are Overblown”
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