🚨 Canaccord sharply cut its price target for Strategy but still recommends buying.
🟦 Canaccord recently drew attention by lowering the price target for Strategy's stock by 61%, from 474 USD to 185 USD.
🟦 The main reason is that Bitcoin is experiencing an "identity crisis," trading more like a risk asset than a safe haven, and failing to keep pace with the rise of gold.
🟦 Nevertheless, analysts maintain a positive outlook because Strategy has a very strong financial foundation, holding over 44 billion USD in Bitcoin while convertible debt is only around 8 billion USD.
🟦 The new price target reflects expectations of a moderate recovery for Bitcoin and the company's valuation could be expanded again.
BTC
66,506.26
-1.17%