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Mizuho Securities kept an "Outperform" rating and $586 price target, saying Strategy's bitcoin treasury operation continues to outperform expectations despite a cooling premium. The firm noted the company now holds 640,808 BTC, equal to roughly 3.1% of total supply, and achieved a 26% year-to-date bitcoin yield, close to its full-year 30% target.



Analysts Dan Dolev and Alexander Jenkins said Strategy’s model, using market premiums and capital raises to accrete bitcoin per share, remains sustainable so long as access to capital markets persists.

Strategy continues to model bitcoin reaching about $150,000 by the end of 2025, a trajectory Mizuho notes would imply a three-year compounded growth rate of roughly 20% to 25%.

"Higher bitcoin prices and continued access to capital markets should allow Strategy to achieve positive bitcoin yield and drive further increases in its sum-of-the-parts valuation," they wrote in a note to clients.$BTC #AreYouBullishOrBearishToday? #OctoberMarketPrediction #SpotETFApprovalUpdates #CryptoMarketWatch #BitcoinMarketAnalysis
BTC3.97%
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