Cantor Fitzgerald slashed its Strategy price target, but remains bullish on the stock despite fears over potential exclusion by the MSCI Index and forced liquidation concerns, the FT said.
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US-based financial firm Cantor Fitzgerald slashed its price target on Michael Saylor’s Bitcoin-heavy company, Strategy, but kept a bullish stance on the cryptocurrency’s long-term upside, downplaying fears of forced liquidation, according to the Financial Times.
Cantor Fitzgerald reportedly lowered its 12-month price target on Strategy stock by 60%, adjusted to $229 from $560, according to a Thursday analyst seen by the FT.
Despite the downgrade, Cantor’s “buy” rating reportedly remains unchanged, as the bank said that fears surrounding Strategy’s forced liquidations were “not warranted,” despite receiving significant attention.
Strategy has “enough cash” to fund dividend payments for 21 months, Cantor Fitzgerald’s analysts said. “Also, MSTR can still raise cash through equity facilities should it be needed. Absent a 90% pullback from current BTC levels, This Fear is Not Warranted.”
Still, Strategy’s share price has badly lagged Cantor’s prior target. Cantor Fitzgerald is the ninth-largest shareholder in the company.
Strategy’s stock traded around $186 at the time of writing, down 27% over the past month and 35% year to date, to Google Finance data.
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Strategy’s stock still faces short-term concerns, including the to remove companies with digital asset holdings exceeding 50% of their total assets.
If enacted, this could result in the “forced selling of MSTR,” but Cantor said this is a “somewhat warranted” fear that only presents a “near-term flow headwind.”
Still, Cantor remains bullish on Strategy and Bitcoin’s () price momentum, calling the current pullback a “healthy” correction as BTC is on track to eclipse the market capitalization of gold.
“We continue to believe that we are not far away from Bitcoin overtaking Gold’s market cap,” Cantor reportedly wrote. “As of today, Bitcoin’s market cap is just 6.1% of Gold’s market cap. To overtake Gold, Bitcoin would need to be priced at $1,577,860.”
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Other popular analysts have also predicted that Bitcoin will eventually eclipse gold’s market capitalization. For instance, Joe Burnett predicted that this development would see Bitcoin surpass .
Still, Bitcoin’s price would need to grow nearly 16-fold to surpass the value of the world’s largest precious metal.
Since the beginning of 2025, gold’s price has risen 58%, outperforming Bitcoin’s 1.5% YTD decline, according to TradingView .
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