Strategy (MSTR) stock opened the year lower after several months of losses in U.S. trading. The decline followed Bitcoin slipping below the $73 mark, a 52-week low, leaving MSTR near its 52-week bottom and under its 200-day simple moving average.
Michael Saylor, Strategy CEO, remains publicly bullish despite the firm’s large unrealized losses and criticism. Investors have grown cautious, pushing some Wall Street price targets down to about $100 while others still project much higher levels.
MSTR now trades below $125 as analysts revise forecasts to reflect growing bearishness. The most optimistic targets include $500 from Maxim Group and roughly $475 from both Barclays and Canaccord Genuity.
Strategy continued buying during Bitcoin’s slump, adding about $264 million in BTC and now holding 712,647 BTC. Those holdings are valued at approximately $63 billion.
The GraniteShares 2x Short MSTR Daily ETF has surged roughly 275% over the past year and hit a record $114, up 13.5% year-to-date. (Ed. note: The fund is designed to deliver about -200% of MSTR’s daily performance.)
Crypto-linked stocks such as Strategy and Coinbase (COIN) have declined as analysts reassess 2026 outlooks, with some advising exit ahead of further losses.
