Bernstein Predicts Bitcoin Bottomed: $150K Target as Strategy (MSTR) Holds $53.5B in BTC

Wall Street broker Bernstein believes Bitcoin has likely hit its bottom, maintaining a $150,000 year-end price target, citing strong institutional ETF flows and increasing corporate demand. Analysts noted that MicroStrategy (MSTR), viewed as a high-beta proxy for Bitcoin, remains resilient, currently holding about 3.6% of the total Bitcoin supply, valued near $53.5 billion. MSTR has been actively adding to its holdings, raising $7.3 billion in 2026 for this purpose. Bernstein also highlighted growing interest in MSTR's preferred shares, STRC, which help limit dilution while securing long-term capital. The firm views the recent sharp pullback from late 2025 highs as a temporary sentiment reset, not a fundamental breakdown. Furthermore, MicroStrategy has expanded its capital-raising capacity through ATM offerings, adding new sales agents to execute programs for common stock and preferred shares, potentially allowing it to sell up to $21 billion in new common stock.

(Source：Bitcoin Magazine)