Analyst predicts 214% surge for battered stock

A week ago, a tiny Bitcoin (BTC) sale by Strategy (NASDAQ: MSTR) had investors bracing for a change of heart.

This week, the company went right back to buying. One analyst says that’s exactly the point.

TD Cowen’s Lance Vitanza believes Strategy’s latest Bitcoin purchase confirms that its recent sales were tactical, not a retreat from its long-term accumulation plan.

Related: Exclusive: Cathie Wood’s Ark Invest reveals the cost of mega IPOs

Why the analyst isn’t worried about that sale

Last week, Strategy disclosed that it had sold 32 BTC, its first sale in years. But the market read it as a warning sign. Vitanza doesn’t buy that.

He called the sale economically insignificant and likely tied to taxes, describing the company, still the world’s largest corporate Bitcoin holder, as a “disciplined net accumulator.”

The new purchase, he said, simply shows Strategy doing what it always does, which is raising money by selling shares and pouring it into more Bitcoin.

If anything, Vitanza argued, the back-to-back moves prove Strategy can offload small amounts of Bitcoin at higher prices and scoop up larger amounts later when prices fall.

The numbers back him up. On June 8, Strategy said it bought 1,550 BTC for about $101 million during the week ended June 7, funded by roughly $181 million raised through share sales under its at-the-market (ATM) program. That pushed its stash to 845,256 BTC, and it still has around $26 billion of ATM capacity left to keep buying.

TD Cowen is sticking with its $400 price target and “Buy” rating on the stock, which closed Monday at $127.20. That leaves room for roughly 214% upside.

Trending on TheStreet Roundtable:

MSTR Stock and Bitcoin try to find their footing

MSTR closed 5.61% higher Monday at $127.20, though it slipped in Tuesday’s pre-market session. At press time, it was trading 2.42% lower during pre-market hours.

MSTR’s year-to-date return has dropped 18% while in the past one month, the stock has dropped over 32%. Looking at the one year time frame, the stock performed even lower, having dropped over 68%.

Bitcoin is also catching its breath. After dropping below $60,000 last week, it bounced back Monday, climbing as high as $64,154, according to CoinGecko. At press time, it had eased about 1.9% to around $62,636.

Related: JPMorgan issues fresh warning for corporate giant’s dollar reserves

This story was originally published by TheStreet on Jun 9, 2026, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.