Despite a significant decline in 2025, Michael Saylor's Microstrategy still has substantial upside potential, says TD Cowen

2026-01-15 17:20:27

Source: CryptoNewsNet Original Title: Michael Saylor’s Strategy still has major upside despite 2025 plunge, says TD Cowen Original Link: https://cryptonews.net/news/bitcoin/32283457/ Microstrategy (MSTR) bold Bitcoin BTC treasury strategy is facing a mild reassessment from the bullish TD Cowen, with the stock falling about 66% in the second half of 2025.

Analyst Lance Vitanza has lowered MSTR’s 12-month price target from $500 to $440, which still represents an approximately 150% increase from the current level of $175 .

Vitanza pointed out Microstrategy’s recent active financing efforts, stating that the company led by Michael Saylor continues to lean toward Bitcoin accumulation during what he calls a cryptocurrency “temporary downturn.”

Vitanza now expects the company’s Bitcoin holdings to grow by 155,000 coins this year, up from his previous estimate of 90,000, pushing MSTR’s Bitcoin stack to over 800,000 BTC. However, due to recent issuance of common stock at a slight premium close to net asset value, the so-called Bitcoin yield generated by these holdings is now expected to be lower.

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