Is Strategy Stock (MSTR) Still a Buy After a 210% Jump?

Strategy (MSTR) stock has soared about 210% over the past year, fueled by its bold bet on Bitcoin (BTC). For many investors, it has become a popular way to gain exposure to Bitcoin without owning the cryptocurrency directly. The company now holds more than 597,000 Bitcoin, valued at around $64 billion. That makes it the largest corporate holder of Bitcoin in the world, according to BitcoinTreasuries.net.

With Bitcoin trading above $100,000, bulls believe there’s still room to run. And with Wall Street maintaining a Strong Buy rating on MSTR stock, many investors see more upside, though risks remain if crypto momentum fades or regulations tighten.

On June 30, Strategy announced it had acquired 4,980 Bitcoin at an average price of about $106,800 per coin. The purchase was funded through its at-the-market (ATM) stock offering. In total, the company added 69,140 Bitcoin in the second quarter, topping TD Cowen’s estimate of 66,000.

With Bitcoin prices rising, those purchases have grown in value, giving Strategy billions in unrealized gains. CEO Michael Saylor remains firm in his belief that Bitcoin is the most valuable asset of this era, and Strategy is positioning itself as the largest corporate holder in the world.

Analysts remain bullish on Strategy, even after the stock’s sharp rally. TD Cowen’s Top analyst, Lance Vitanza, has reiterated a Buy rating on the stock with a $590 price target, implying a 47% upside from current levels. He praised the company for “closing Q2 in style” after beating Bitcoin purchase estimates.

Vitanza believes Strategy is a “compelling vehicle” for investors seeking direct Bitcoin exposure. His model now assumes Strategy will hold over 850,000 BTC by the end of FY27, or about 4.1% of all Bitcoin that will ever exist.

The average Wall Street rating on MSTR is Strong Buy. However, it is important to remember that if U.S. policies or global tax laws change, it could shake up the crypto market and hurt MSTR stock.

MSTR, earlier known as MicroStrategy, is a high-risk, high-reward stock. Currently, Wall Street is bullish on Strategy stock, with a Strong Buy consensus rating based on 11 Buys and one Sell recommendation. The average MSTR stock price target of $533.50 implies about 32.62% upside potential from current levels.