Strategy’s $84B Bitcoin growth plan gains endorsement from Wall Street analysts.

Strategy (MSTR)’s bold move to expand its bitcoin holdings has received strong backing from Wall Street analysts, who view the $84 billion expansion plan as a strategic and promising initiative. The company’s leadership and its innovative approach to treasury management are garnering positive attention, with both Benchmark and TD Cowen offering strong support for the plan.

Benchmark’s Mark Palmer praised Strategy’s commitment to bitcoin, reiterating his buy rating and $650 price target. He highlighted the company’s impressive track record of maximizing shareholder value and its first-mover advantage in acquiring bitcoin at scale. Palmer believes that Strategy’s approach continues to provide significant upside potential despite the company’s $12 billion premium over its bitcoin holdings.

TD Cowen’s Lance Vitanza also expressed confidence in Strategy’s expansion, noting that the company has already demonstrated significant success with its initial 21/21 Plan, having raised $28.3 billion so far. Vitanza, who maintains a buy rating with a $550 price target, emphasized that raising $56.7 billion over the next 32 months is a realistic goal, given the company’s $111 billion market cap and liquidity.

The company’s updated $84 billion target is double the initial goal, signaling Strategy’s confidence in the future value of bitcoin. The plan includes funding through common stock and debt issuances, designed to drive even more significant acquisitions of the cryptocurrency.

Saylor and the team are not only focused on acquiring more bitcoin, but also increasing the company’s BTC Yield and BTC $ Gain targets, raising them to 25% and $15 billion, respectively. Analysts are optimistic about these ambitious goals, with Palmer noting that Strategy is already nearing 90% of its original BTC Yield target in just four months.

Following the announcement, MSTR stock saw a 1.8% increase, closing at $388, as bitcoin remained near the $97,000 mark, signaling continued confidence in the asset’s long-term prospects.