JPMorgan

Bitcoin

MSTR

A week ago, a tiny <a rel="noopener noreferrer nofollow">Bitcoin </a>(BTC) sale by Strategy (NASDAQ: MSTR) had investors bracing for a change of heart.&nbsp;
This week, the company went right back to buying. One analyst says that's exactly the point.
TD Cowen's Lance Vitanza believes Strategy's latest Bitcoin purchase confirms that its recent sales were tactical, not a retreat from its long-term accumulation plan.&nbsp;
<a href="https://www.thestreet.com/crypto/markets/exclusive-cathie-woods-ark-invest-reveals-the-cost-of-mega-ipos" rel="noopener noreferrer nofollow">Related: Exclusive: Cathie Wood's Ark Invest reveals the cost of mega IPOs</a>
<h2 id="why-the-analyst-isn-t-worried-about-that-sale">Why the analyst isn't worried about that sale</h2>
Last week, Strategy disclosed that it had sold 32 BTC, its first sale in years. But the market read it as a warning sign. Vitanza doesn't buy that.
He <a href="https://www.coindesk.com/business/2026/06/08/live-updates-bitcoin-above-usd63-400-as-strategy-adds-usd100-million-btc-in-latest-purchase?post-id=466334598572" rel="noopener noreferrer nofollow">called</a> the sale economically insignificant and likely tied to taxes, describing the company, still the world's largest corporate Bitcoin holder, as a "disciplined net accumulator."&nbsp;
The new purchase, he said, simply shows Strategy doing what it always does, which is raising money by selling shares and pouring it into more Bitcoin.
If anything, Vitanza argued, the back-to-back moves prove Strategy can offload small amounts of Bitcoin at higher prices and scoop up larger amounts later when prices fall.
The numbers back him up. On June 8, Strategy said it <a href="https://www.thestreet.com/crypto/markets/saylor-buys-101m-worth-bitcoin-as-price-crashes" rel="noopener noreferrer nofollow">bought 1,550 BTC</a> for about $101 million during the week ended June 7, funded by roughly $181 million raised through share sales under its at-the-market (ATM) program. That pushed its stash to 845,256 BTC, and it still has around $26 billion of ATM capacity left to keep buying.
TD Cowen is sticking with its $400 price target and "Buy" rating on the stock, which closed Monday at $127.20. That leaves room for roughly 214% upside.
<h3 id="trending-on-thestreet-roundtable">Trending on TheStreet Roundtable:</h3>
<ul>
 <li><a href="https://www.thestreet.com/crypto/markets/bitcoin-crash-wipes-out-billions-in-market-rout" rel="noopener noreferrer nofollow">Bitcoin crash triggers billions in liquidations</a> </li>
 <li><a href="https://www.thestreet.com/crypto/markets/traders-are-pricing-spacex-70-higher-before-its-june-12-ipo" rel="noopener noreferrer nofollow">Traders are pricing SpaceX 70% higher before its June 12 IPO</a></li>
 <li><a href="https://www.thestreet.com/crypto/markets/popular-tech-stock-surges-after-new-data-center-announcement" rel="noopener noreferrer nofollow">Popular tech stock surges after new data center announcement</a></li>
</ul>
<h2 id="mstr-stock-and-bitcoin-try-to-find-their-footing">MSTR Stock and Bitcoin try to find their footing</h2>
MSTR closed 5.61% higher Monday at $127.20, though it slipped in Tuesday's pre-market session. At press time, it was trading&nbsp;2.42% lower during pre-market hours.&nbsp;
MSTR's year-to-date return has dropped 18% while in the past one month, the stock has dropped over 32%. Looking at the one year time frame, the stock performed even lower, having dropped over 68%.
Bitcoin is also catching its breath. After dropping <a href="https://www.thestreet.com/crypto/markets/bitcoin-crashes-below-60k-for-first-time-in-21-months" rel="noopener noreferrer nofollow">below $60,000 last week</a>, it bounced back Monday, climbing as high as $64,154, according to CoinGecko. At press time, it had eased about 1.9% to around $62,636.
<a href="https://www.thestreet.com/crypto/markets/jpmorgan-issues-fresh-warning-for-corporate-giants-dollar-reserves" rel="noopener noreferrer nofollow">Related: JPMorgan issues fresh warning for corporate giant's dollar reserves</a>

Analyst predicts 214% surge for battered stock

Table of Contents

TheStreet Roundtable

Other articles published on Jun 9, 2026

Join our free newsletter for daily crypto updates!