MicroStrategy Defends Bitcoin Buys Amidst Price Swings, Analyst Uplifts Target

MicroStrategy CEO Phong Le has defended the company's approach to Bitcoin accumulation, particularly the recent strategy of purchasing the cryptocurrency near $80,000 after having sold holdings in the $60,000 range. Le stated that the decision was driven by the cost of capital rather than the immediate market price, characterizing it as the "right trade."

This defense comes as MicroStrategy's total assets grew to $72 billion over the past two months, comprising $65 billion in Bitcoin and $7 billion in U.S. dollar reserves, a 34% increase in that period. Le clarified that the sale of approximately 7,000 Bitcoin, less than 1% of the company's holdings, was to fund preferred dividends and buybacks and did not signal a retreat from its accumulation strategy, noting that Bitcoin holdings have grown as much as 30% this year.

Separately, Alliance Global initiated coverage on MicroStrategy (MSTR) with a 'Buy' rating and set a price target of $217. This target implies approximately 75% upside from the prior day's closing price. The analyst cited MicroStrategy's substantial Bitcoin holdings, which represent about 4% of the cryptocurrency's total supply, and a yield-generation strategy as key components of the bull case.

Le also addressed a letter sent to index provider MSCI, opposing a proposal to exclude companies with non-operating assets like Bitcoin treasuries from its Global Investable Market Indexes, calling the move "discriminatory, arbitrary and misguided."

MicroStrategy stock (MSTR) was down by 0.70% during pre-market trading. The price of Bitcoin (BTC) itself was down by 0.8% over the past 24 hours.

### Story Arc / How We Got Here

This follows our earlier coverage ([Coinbase, MicroStrategy Price Targets Raised by Wall Street](/explore/coinbase-microstrategy-price-targets-raised-by-wall-street)) on 2026-08-26. Goldman Sachs has increased its price target for Coinbase (NASDAQ: COIN) to $196, while Canaccord has raised its target for MicroStrategy (NASDAQ: MSTR) to $175 following recent rallies in both stocks. This indicates continued analyst interest and potential for further price movement in these crypto-adjacent entities. · If considering exposure to the cryptocurrency market through equities, investors could watch $COIN+WL following Goldman Sachs's raised target, and $MSTR+WL in light of Canaccord's revised outlook, as these targets may influence market perceptions and trading ranges.