Benchmark analysts cheer Strategy’s pivot to STRC as ‘primary engine’ for bitcoin accumulation

Benchmark reiterated its "buy" rating on Strategy (MSTR) shares, supporting the company's strategic pivot announced by Executive Chairman Michael Saylor. This shift moves away from urging corporations to adopt bitcoin on their balance sheets toward promoting STRC, Strategy's flagship perpetual preferred stock, as the primary funding vehicle for new bitcoin purchases. Benchmark analyst Mark Palmer called STRC the "primary engine" for accelerating bitcoin per-share growth. Saylor framed this as part of a "digital credit" vision, where STRC issuance proceeds fund bitcoin acquisition, aiming to increase bitcoin per share for common equity holders while offering preferred investors income. Benchmark maintains a $705 price target, noting that Strategy currently holds 717,722 BTC, despite an unrealized loss on its holdings.

(Source：The Block)