From the "Bitcoin Flywheel Strategy" endorsed by Wall Street's "coin holders," is the (MSTR.US) strategy about to resume its wild rally?

Wall Street's renowned investment firm Canaccord Genuity recently released a research report reaffirming a "buy" rating for Michael Saylor's Strategy company (MSTR.US) and maintaining a target price of $464 for the company in the next 12 months. As of last Friday's closing of the US stock market, Strategy's stock price closed at $334.41, indicating that in Canaccord Genuity's view, the company, known for being a "large holder of Bitcoin positions" and a "Bitcoin shadow stock", is poised to return to a bullish trend. Based on the $464 target price, this suggests nearly 40% potential upside. According to Canaccord Genuity's team of stock analysts, Strategy is currently one of the most promising growth stocks and they reiterated the high target price of $464. The analysts believe that the company's preferred stock sales have significantly driven shareholder value, as it raised over $6 billion in cash this year through these issuances, making it "one of the most successful fundraising cases in American capital market history". The analysts from the firm added that despite the significant volatility of Bitcoin prices being a major risk, Strategy remains one of the most innovative cryptocurrency companies within their coverage. Canaccord Genuity's team of stock analysts even anticipate more companies following Strategy's financial strategy, which is driven by Bitcoin. It is worth noting that other Wall Street institutions bullish on Strategy's stock price recently include Mizuho, which reiterated its "outperform the market" rating in early August with a target price raised to $586, while BTIG and Benchmark are even more optimistic, expecting the company's stock price to surpass $700. This highlights the expectation on Wall Street that the potential upward trend in Bitcoin and the relative premium of the stock price to Bitcoin will jointly drive Strategy's stock price to embark on a new bullish trajectory. The most successful investment bank in human financial history Strategy has even been dubbed by some financial pundits as "the most successful investment bank in human financial history", as the company went from the brink of bankruptcy to a total market value exceeding $100 billion with the help of the enthusiastic sentiment from investors due to its large holdings in Bitcoin. The current total market value of the company far exceeds the market value of the Bitcoin it holds. This is due to their large Bitcoin holdings following the Bitcoin "super bull market" which reached over $120,000 per Bitcoin since 2024. As of August 29, 2025, Strategy (formerly MicroStrategy) disclosed its Bitcoin holdings at 632,457 Bitcoins (BTC); this data is consistent with recent records of additional purchases (3,081 Bitcoins added on August 25th) made public on their company website's "Purchases/Metrics" page. Since Saylor began investing almost all of the company's cash in Bitcoin to hedge against inflation in 2020, Strategy's stock price has risen approximately 2,350%. During the same period, the price of Bitcoin has increased by about 700%, solidifying Strategy as "the most successful investment bank in human financial history". This technology company controlled by co-founder and chairman Saylor has been buying Bitcoin at low points in recent years, making it the largest enterprise-level holder of Bitcoin in the world under the "listed companies/corporate holdings" category. Multiple authoritative/data-based sources (Financial Times, BitcoinTreasuries, Visual Capitalist, CoinDesk) list it as number one, with its holdings far exceeding those of mining companies and other public fund types of investment institutions. Strategy has been raising funds through the issuance of stock and convertible bonds to buy more Bitcoin; when the stock price is higher than its net asset value (NAV) in Bitcoin, new equity financing often has a thickening effect on each share of Bitcoin, making the stock a "recursive leverage long position on BTC". In simple terms: it's more "like a call option on BTC" than holding the coin directly. This is the logic behind the premium. As long as the premium exists, the Strategy management may continue to choose to issue new shares at higher prices, exchanging less shares for more Bitcoin, further increasing the exposure to Bitcoin; and when market volatility increases, arbitrage in convertible bonds and volatility pricing provide an "implicit subsidy" to this model. Several institutional research and columns refer to this as a "flywheel" approach that utilizes capital structure and market microstructure. Aligning corporate governance with the narrative of long-term bullish sentiment on Bitcoin, strengthens the market perception of "high liquidity + pure beta + leverage alpha", pushing up the company's stock price relative to the long-term market value premium of Bitcoin holdings (mNAV>1). However, the biggest risk lies in the narrowing of the premium when the market fears "increased dilution/ difficulty in refinancing" or when Bitcoin pulls back and the "flywheel" slows down (market turbulence resulting in a "premium rollback" was seen in August this year). Is the Bitcoin bull market far from over? If the Bitcoin bull market continues, the wild rise in the stock price of Strategy, known as "the most successful investment bank in human financial history", is also far from over. Optimistic investors believe that with the continued decline in the US dollar exchange rate, Bitcoin, with its dual attributes of safe haven and store of value, will soar to $200,000 by the end of the year. Although the US dollar index occasionally rebounds after the easing of trade tensions between China and the US, more and more Wall Street investment institutions are emphasizing that this rebound is temporary, and many are highlighting that a potential "US dollar bear market" that could last for many years has just begun. The trigger for this being the chaotic and disruptive actions of the Trump administration to overhaul the global trade system and pose a significant threat to the independence of the Federal Reserve's monetary policy. Standard Chartered Bank, which accurately predicted the unprecedented bull market curve of Bitcoin in 2024, has been rallying for Bitcoin multiple times this year. The institution predicts that the price of Bitcoin (BTC-USD) will soar to $200,000 by the end of 2025, a historic milestone, and forecasts that Bitcoin will skyrocket to $500,000 before Trump formally leaves office in 2029.