Michael Saylor’s Bitcoin purchase strategy had believers and skeptics. But a new rival emerged, which already has almost $ 4 billion of BTC in its balance, and is an upward sign, according to at least one Wall Street analyst.
When Softbank, Tether and Cantor Fitzgerald presented plans to launch a new Bitcoin investment company called Twenty One, explicitly structured around Bitcoin as their main business, many called it a significant rival for Saylor’s strategy (Mstr). His general Bitcoin Day-one balance would classify him as the third largest Bitcoin Treasury on the first day on the first day.
In traditional finance, it could be argued that such a large competition could hinder the market share of a dominant company and the improvement of capital, especially because twenty -one is already being potentially launched with more than 42,000 BTC in the launch (for a value of almost $ 4 billion at spot price).
However, TD Cowen Lance Vitanza analysts and Jonnathan Navarrete see it as exactly the opposite: “The proposed twenty -one years reflects the most intentional validation of the treasure operations of the Bitcoin strategy to date”, leaving the “increasingly bullish” analysts in the stock.
Analysts added that the new rival could even turn Mstr’s greatest skeptics, institutional investors, believers in the Bitcoin purchase strategy of Saylor. The measure would also increase Bitcoin’s demand for a high profile participant, which could exceed any pressure on the cost of capital of the strategy and attract more capital to buy Bitcoin.
“Certainly, this is what Michael Saylor professes to believe,” the analysts wrote, pointing out the long -standing impulse of the founder of the strategy so that more companies adopt similar strategies.
TD Cowen maintained its target price of $ 550 for MSTR and projects that the company could have 757,000 BTC at the end of fiscal year 2027, approximately 3.6% of Bitcoin’s total supply. The analysts said that if Bitcoin reaches an average price of $ 170,000 by then, TD Cowen estimates that Stash could be worth $ 129 billion.
The uprising impact of this rivalry is already prominent in the market. The actions of Cantor Equity Partners (CEP), the twenty -year -old SPAC vehicle, have already risen to 130% from the announcement, while Mstr’s shares remained strong.
Read more: Cantor Skyrocks 130% as FOMO merchants in actions in Bitcoin Spac Frenzy
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