Strategy Inc. (MSTR), led by Executive Chairman Michael Saylor, remains one of the strongest ways to invest in Bitcoin, according to top BTIG analyst Andrew Harte. The analyst cut his price target to $630 from $700, but kept a Buy rating, noting that the stock still offers strong upside for investors confident in Bitcoin’s long-term growth.
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Harte said that during the Q3 2025 earnings call, Saylor described how Strategy is building what he called a “credit factory,” a set of products that let investors choose different levels of Bitcoin exposure. The company now has four preferred equity offerings, each giving investors a different balance of risk and return. Harte said this approach effectively builds a Bitcoin yield curve, letting investors pick how much exposure they want.
Q3 Earnings Snapshot
The company posted better-than-expected Q3 results, driven by strong gains from its Bitcoin holdings and higher revenue from its core business. It reported Q3 earnings of $8.42 per share, beating estimates of $7.90, on revenue of $128.7 million, which topped forecasts of $116.35 million. Notably, the company now owns about 640,808 BTC, valued at roughly $70.9 billion at current prices, with an average purchase cost of $74,032 per coin.
During the quarter, Strategy Inc. also increased its dividend rate to 10.5% for its Series A Preferred Stock to attract more investor demand. Executive Chairman Michael Saylor called this an “inflection point” for the company, as it continues to expand funding options tied to its growing Bitcoin strategy.
Analyst Highlights Growth Potential
The analyst noted that Strategy is widening its reach by developing new credit products and introducing international securities. The company’s recent B- credit rating from S&P Global will let it tap into the high-yield market, giving it more ways to raise capital beyond equity sales.
Despite the stock being down 37% year to date, Harte said Strategy’s valuation looks attractive, trading at about 1.3 times its modified net asset value, well below its long-term average of 2.1 times. He said this gives investors a good entry point into one of the purest public Bitcoin plays.
Harte believes that while Bitcoin’s price swings may keep short-term pressure on the stock, Strategy’s growing funding options and product lineup make it better positioned for the future.
Is MSTR Stock a Buy Right Now?
According to TipRanks, MSTR stock has a consensus Strong Buy rating among 14 Wall Street analysts. That rating is based on 13 Buys and one Sell assigned in the past three months. The average MSTR price target of $532.84 implies a 109.31% upside from current levels.
