"Shares of Strategy ($MSTR) plunged again today as Bitcoin's sell‑off deepened, reinforcing the tight correlation between the world's largest corporate Bitcoin holder and the digital asset's price action. Bitcoin cratered toward $72,000, extending losses to levels not seen since late 2024, while MSTR shares tumbled roughly 9% on the session, dipping to intraday lows near $121.19. At current levels the stock is down roughly 15% year‑to‑date"
"In a notable update this week, Canaccord Genuity analyst Joseph Vafi, long viewed as one of MSTR's most vocal supporters, dramatically slashed his price target from $474 to $185 - a 61% reduction - while maintaining a Buy rating on the stock. According to Vafi's revised outlook, the new target still implies "significant upside" from current levels if volatility subsides and Bitcoin finds a tradable bottom."
Bitcoin fell toward $72,000, extending losses to lows not seen since late 2024 and dragging Strategy ($MSTR) shares down roughly 9% to intraday lows near $121.19. The stock is about 15% lower year‑to‑date and roughly 72% off its November 2024 peak. The broader crypto complex turned lower as sentiment soured and traders eyed technical support near the mid‑$60,000 range amid calls for deeper retracements if demand fails to stabilize. Canaccord Genuity's Joseph Vafi cut his MSTR price target from $474 to $185 while maintaining a Buy rating. Strategy purchased 855 bitcoin for about $75.3 million at an average price of $87,974 per BTC.
Read at Bitcoin Magazine
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