Michael Saylor’s Bitcoin purchasing strategy had both believers and skeptics. But a new rival has just emerged, already holding nearly $ 4 billion BTC in its balance sheet – and it is a bull panel, according to at least one Wall Street analyst.
When Softbank, Tether and Cantor Fitzgerald unveiled plans to launch a new Bitcoin investment company called Twenty One, explicitly structured around Bitcoin holding as the main business, many qualified it as a major rival for Saylor’s strategy (MSTR). His Bitcoin day the day the day would classify him as the third Treasury Bitcoin publicly owned on the first day.
In traditional finance, we could argue that such competition could hinder the market share of a dominant company and the opportunities to reduce capital, especially since twenty-one is already potentially launched with more than 42,000 BTC at launch (worth almost 4 billion dollars at punctual price).
However, TD Cowen analysts launched Vitanza and Jonnathan Navarrete see it as the exact opposite: “The proposed launch of twenty years reflects the most sensible validation of the operations of the Bitcoin Treasury of Strategment to date,” leaving the analysts “gradually overtime” on the stock.
Analysts added that the new rival could even convert MSTR’s largest skeptics, institutional investors, believing in Saylor Bitcoin purchasing strategy. This decision would also increase the Bitcoin request for a high -level participant, which could prevail over any pressure on the cost of the capital of the strategy and attract more capital in the purchase of Bitcoin.
“This is certainly what Michael Saylor claims to believe,” wrote analysts, highlighting the long -standing pressure of the founder of the strategy so that more companies adopt similar strategies.
TD Cowen has maintained its price target of $ 550 for MSTR and projects that the company could hold 757,000 BTC by the end of the year 2027 – approximately 3.6% of the total Bitcoin offer. Analysts said that if Bitcoin reaches an average price of $ 170,000 at that time, TD Cowen estimated that Stash could be worth $ 129 billion.
The bullish impact of this rivalry is already important on the market. The shares of Cantor Equity Partners (CEP), twenty spac vehicles, have already climbed up to 130% from the announcement, while MSTR’s shares were strong.
Read more: Cantor sets up 130% as Fomo traders in stock on Bitcoin Spac Frenzy
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