Strategy (MSTR) stock has rallied about 34% year-to-date and has jumped 138% over the past year. The company, earlier known as MicroStrategy, is the world’s largest Bitcoin (BTC-USD) treasury company and also offers AI-powered enterprise analytics software. MSTR stock is considered to be an attractive alternative to direct investment in the largest cryptocurrency, Bitcoin. Wall Street is highly bullish on Strategy stock and sees solid upside potential from current levels.
Confident Investing Starts Here:
Strategy accumulates Bitcoin by using proceeds from equity and debt financings, as well as cash flows from its operations. The company recently disclosed that it acquired 705 Bitcoins from May 26, 2025, to June 1, 2025, for $75.1 million. This brings Strategy’s total BTC holdings to 580,955, acquired at $40.7 billion.
Further, on June 2, Strategy announced an initial public offering of 2,500,000 shares of its Series A Perpetual Stride Preferred Stock (STRD). The company intends to use the net proceeds from the offering for general corporate purposes, including the acquisition of Bitcoin and for working capital.
Wall Street Remains Bullish on MSTR Stock
Recently, Wells Fargo said that Bitcoin is entering an “institutional phase,” marked by the rise of a new category of companies, called Bitcoin treasury corps, which are using capital markets to accumulate large Bitcoin holdings.
Wells Fargo highlighted the rise of three new Bitcoin treasury corporations with political ties (Cantor/Tether’s Twenty One, Vivek Ramaswamy’s Strive, and David Bailey’s Nakamoto) following the success of Strategy. Overall, Wells Fargo expects these three groups to raise as much as $25 billion.
The investment firm contends that the emergence of spot Bitcoin ETFs has also accelerated institutional exposure. Notably, ETFs have garnered $136 billion in assets under management (AUM) just 16 months after launch. Wells Fargo contends that the rise of new Bitcoin treasury corps may become an even bigger source of AUM. It added that Strategy, which is the frontrunner in using equity markets to accumulate Bitcoin, is setting its sights on the $300 trillion global bond market via its STRK and STRF offerings. Wells Fargo believes this initiative to capture the $300 trillion global bond market “might be the most underappreciated bitcoin story of 2025.”
Additionally, TD Cowen analyst Lance Vitanza reiterated a Buy rating on Strategy stock with a price target of $590 (52.3% upside potential). The 5-star analyst noted that MSTR created a first-ever at-the-market (ATM) equity offering for its Strife (STRF) preferred stock, sized at $2.1 billion, and said that he expects this program to create significantly greater accretion for common shareholders compared to its common stock and STRK (Strike) ATMs. Vitanza continues to view MSTR stock as a “compelling vehicle for bitcoin investors.”
Is MSTR Stock a Buy, Sell, or Hold?
MSTR is a high-risk, high-reward stock. Currently, Wall Street is highly bullish on Strategy stock, with a Strong Buy consensus rating based on 12 Buys and one Sell recommendation. The average MSTR stock price target of $524.92 implies about 35.5% upside potential from current levels.
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