Key facts
- A wallet linked to Strategy transferred 1,030 Bitcoin, valued at over $66 million.
- This transfer occurred after Strategy sold 1,638 Bitcoin for $105 million.
- Several Wall Street firms, including Maxim Group, Cantor Fitzgerald, and B. Riley, have reduced their price targets for MSTR stock.
- Maxim Group's new price target for MSTR is $215, implying a potential 120% upside.
- Strategy's stock (MSTR) is down 50% year-to-date.
- Strategy has begun occasional Bitcoin sales to increase U.S. dollar reserves.
A wallet linked to Michael Saylor's Strategy has transferred 1,030 Bitcoin, valued at over $66 million, to other wallets. This activity has fueled speculation about potential further sales, following the company's recent sale of 1,638 Bitcoin for $105 million. The transfers come as Wall Street analysts have become more cautious, leading to multiple price target reductions for Strategy's stock (MSTR).
Maxim Group, an investment bank, lowered its price target on MSTR to $215 from $250 while maintaining a Buy rating, suggesting a potential 120% upside. This move follows similar reductions by Cantor Fitzgerald, which set a target of $186 and revised its Bitcoin price forecast, and B. Riley, which cut its MSTR target to $155 and lowered its Bitcoin outlook. These downgrades reflect a shift in analyst sentiment as Bitcoin price expectations have moderated and Strategy has moved away from its long-standing 'never sell' approach.
On-chain analytics firm Lookonchain reported the transactions from the Strategy-linked wallet, with data from Arkham Intelligence indicating multiple transfers earlier in the week. While Strategy has not officially commented on the purpose of these latest transfers, they have moved all Bitcoin from the originating wallet. The company has begun occasional sales to bolster its U.S. dollar reserves, necessary for funding dividends. Strategy reported a net loss of $8.22 billion in Q2 2026, largely due to its Bitcoin holdings. MSTR stock has declined 50% year-to-date.