Strategy rises as bitcoin gains and Canaccord lifts target
Strategy shares rose 2.94% in premarket trading Wednesday, with Bitcoin up 1.43% at $79,574.05. Canaccord Genuity kept a Buy rating and raised its price target to $179 on Tuesday.
Strategy Inc. (NASDAQ: MSTR ) stock rose Wednesday, driven mainly by upward momentum in Bitcoin (CRYPTO: BTC). Because the company acts as a massive corporate treasury for cryptocurrency, its stock functions as a leveraged proxy for digital asset markets. 05.
30%. Adding to market interest, Canaccord Genuity maintained a Buy rating on Strategy and raised its price forecast to $179 on Tuesday. Read Also: 'Stop Demanding Taxpayer Subsidies:' GOP Senator Slams AI Data Centers Over Water, Power and Tax Bitcoin Sneaker Sells Out Strategy listed limited-edition Bitcoin sneakers on its official online shop Tuesday for $250. Inspired by Nike Inc.
—the product featured leather overlays and orange branding. The website says the item has since sold out. 73 billion at an average price of roughly $75,412 per coin. 3 million using dollar reserves before ending its buying drought by acquiring 4,603 BTC for $370 million at an average price of $80,318 per coin.
59), which keeps the near-term bias pointed higher as long as those averages hold. 73), a level many longer-term traders treat as a "line in the sand" for trend direction. Momentum is improving: the MACD is above its signal line and the histogram is positive, which suggests downside pressure is easing and the latest upswing still has follow-through behind it. The catch is the bigger-picture damage from the prior cycle remains visible—there’s still a death cross in place (50-day SMA below the 200-day SMA, triggered in October 2025), so bulls generally want to see sustained trade above the 200-day area before calling it a full trend reset.
53 during premarket trading on Wednesday, according to Pro data. Read Also: Apple's Weird iPhone Curse: AAPL Stock Drops on Launch Day, Jumps the Next — Every Year for Almost 20 Years Image via Shutterstock