Bitcoin News

Story: Bitcoin Treasury Growth Slows, But Analysts See Long-Term Strength

By Maheen Hernandez

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Strategy’s Bitcoin Treasury Momentum Cools. The company’s market premium to its net asset value (mNAV) has fallen to around 1.

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Sustained Bitcoin Yield and Market Leverage. Mizuho estimates that Strategy’s Bitcoin yield has reached approximately 26% year-to-date, putting…

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Expanding Access to Global Credit. Beyond quarterly numbers, some market experts are focusing on the company’s evolving credit…

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Benchmark Calls the Dip a “Gift”. Analysts at Benchmark see the recent compression in Strategy’s premium as a temporary adjustment —…

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Analysts Agree: The Machine Still Works. Despite short-term cooling, analysts across Wall Street maintain that Strategy’s Bitcoin Treasury…

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The Road Ahead for Bitcoin Treasury Growth. For now, Strategy appears to be maintaining a cautious stance.

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Conclusion. While Strategy’s Bitcoin accumulation pace may have slowed, analysts say the fundamentals of its…

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After two years of aggressive Bitcoin accumulation, Strategy’s Bitcoin Treasury is finally showing signs of slowing.

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The company’s market premium to its net asset value (mNAV) has fallen to around 1.2x, suggesting that investor enthusiasm has cooled as Bitcoin consolidates near the $110,000 mark.

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According to analysts at Mizuho Securities, the recent slowdown is merely “a breather, not a breakdown.

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Mizuho estimates that Strategy’s Bitcoin yield has reached approximately 26% year-to-date, putting it on track to achieve its 30% annual target if prices remain stable.

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“Access to capital markets and firm Bitcoin prices remain the key growth levers,” Mizuho’s report stated.

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The upgrade makes Strategy eligible for participation in a global credit pool estimated at $4.9 trillion, potentially tripling its fundraising capacity.

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Although Cowen’s team adjusted their price target to $535 to account for a weaker Q4 start, they emphasized that the long-term framework remains robust.

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“What seemed like a sure surge earlier in 2025 now appears to be progressing more gradually,” Cowen’s analysts wrote. “But the fundamental trajectory hasn’t changed.

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