Bernstein "Strategy target price $600... Possible to hold 1 million BTC"

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Summary

Bernstein adjusted the target price of Strategy to $600, which is approximately an 81% increase compared to the current price.
Despite Bitcoin's high volatility, it was reported that Strategy's dividend payment ability and liquidity risk would not be an issue.
Bernstein reported that Strategy could hold 1 million BTC thanks to low interest rates and a strong Bitcoin market.

Bernstein predicted a target price of $600 for Strategy, stating that it could hold more than 1 million Bitcoin (BTC) in the future.

According to The Block on the 26th (local time), Bernstein stated in a report, "Strategy is a company that will exceed the market average return," and "We adjust the target price to $600 considering the fourth quarter performance and recent Bitcoin purchases." This is approximately an 81% increase compared to the current price of Strategy ($331).

Furthermore, "Strategy's expected earnings per share (EPS) has been adjusted upward from $67.50 to $207," and it was evaluated that Bitcoin's high volatility would not burden Strategy's dividend payment ability and liquidity risk.

Moreover, Bernstein predicted that if low interest rates and a strong Bitcoin market continue, Strategy's Bitcoin holdings will exceed 1 million BTC in the future. The report stated, "Currently, Strategy holds Bitcoin equivalent to 2.5% of the total supply (21 million BTC), but it will increase to 5.8% in the future," and "Strategy's debt will be $100 billion, and equity financing will reach about $84 billion."

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