Global financial group Bernstein, which manages assets worth around $880 billion, has staked out a bullish position on both Bitcoin and Strategy company shares. The group regards the recent pullback in Bitcoin’s price as a fundamental floor, setting an ambitious price target of $450 for Strategy shares. This estimate points to a potential upside of 226% compared to the stock’s closing value on Monday, signaling confidence in both the recovery of the cryptocurrency market and key players within it.
Institutional Buying Sets the Price Floor
After surging to an all-time high of $126,210 on October 6, 2025, Bitcoin faced sharp declines, losing 44% of its value by October 10. The main triggers for the plunge were forced liquidations in leveraged trades and renewed geopolitical tensions in February 2026. Despite this volatility, Bitcoin found stability near $71,000, resisting deeper slides seen in previous cycles.
Bernstein analyst Gautam Chhugani attributes this newfound resilience largely to institutional buying. Unlike earlier cycles that saw heavy retail-driven losses, this time, demand from Exchange-Traded Funds (ETFs) and corporate treasuries helped absorb much of the selling pressure and cushioned severe downside moves.
Over the past four weeks, net inflows into Bitcoin ETFs reached $2.2 billion—marking a reversal from year-to-date outflows. This positions total ETF inflows $364 million in the black so far this year. With ETFs now holding 6.1% of Bitcoin’s entire supply, analysts view this as signaling a structural shift in market demand.
Bernstein projects a year-end Bitcoin price of $150,000, contingent on continued mid-term institutional appetite.
Strategy Shares Poised for Gains
Strategy, an influential player at the crossroads of technology and finance, stands out for its vast Bitcoin holdings. Following a recent purchase finalized last week, the company’s Bitcoin reserves have risen to 762,099 BTC—representing an estimated market value of approximately $51.4 billion.
According to company disclosures, Strategy currently holds $56 billion in Bitcoin and cash, balanced against $18 billion in financial liabilities. The firm’s cash reserves alone are enough to cover interest and dividend obligations for the next 25 months, while its Bitcoin portfolio could, in theory, meet such financing costs for the next 50 years.
The company’s share price remains closely linked to Bitcoin thanks to continued acquisitions funded by fresh capital raises. Currently trading at $138.20, the shares face a bullish target of $450—a figure underpinned by both Bitcoin’s anticipated recovery and Strategy’s capital-raising strategy.
Listed under the ticker STRC since July 2025, Strategy’s priority shares have offered investors an annual yield of 11.5%. Trading volume surged 65% over the past three months, making it the most liquid product in its class. Shares have slid 57% over the last six months and 59% over the past year, which Bernstein attributes to dilution effects from ongoing capital increases.
Despite these declines, shares have rebounded 10.9% in the past month. Bernstein believes that most dilution risk has now been factored into the current share price, setting the stage for further growth if conditions remain stable.
