Bitcoin may have touched bottom, $MSTR stock prices have also shown strong resilience, rising more than 30% from the lows of this round

Wall Street's Bernstein believes that Bitcoin prices have likely entered a cyclical bottom range
Bernstein is known for its expertise in researching long-term trends, and its forward-looking views in past tech stock and digital asset cycles have aligned with market cycles, making its judgments on market inflection points highly valuable
Bernstein maintains its price expectation of Bitcoin reaching $150,000 by 2026
Strategy This company originally engaged in software business, but in recent years has gradually transformed into an enterprise with Bitcoin holdings as its core strategy, which can be understood as a special existence that turns the company into a Bitcoin investment vehicle
Currently, its Bitcoin holdings represent approximately 3.6% of global total supply, with a market value of approximately $53.5 billion, a proportion that ranks at a very high level among all institutions
Although Bitcoin prices fell approximately 50% from their highs, $MSTR still demonstrated strong resilience
The market typically views $MSTR as a high-beta asset, meaning its stock price volatility is greater compared to Bitcoin itself, with larger gains during rallies and more severe declines during downturns, equivalent to an amplified version of Bitcoin exposure
From a financial perspective, Bernstein believes the company's balance sheet remains healthy, with the capacity to continue holding and increasing Bitcoin holdings
A strong balance sheet means the company's funding, debt structure, and financing capabilities remain within controllable ranges
It is worth noting that Strategy did not reduce risk exposure during market declines, but instead chose to continue adding positions at lower levels
This behavior typically represents strong confidence in long-term price appreciation
Meanwhile, the company raised approximately $7.3 billion in 2026 through debt issuance or equity offerings and used these funds to further expand Bitcoin holdings, essentially leveraging the capital market to amplify its long-term bet on Bitcoin
Overall, this logic can be understood as follows: on one hand, top research institutions judge based on past experience that Bitcoin may be entering a new round of appreciation cycle, and on the other hand $MSTR is viewed as a proxy Bitcoin asset with greater volatility and amplified risks and returns
@MSX_CN As a U.S. stock token trading platform, can directly participate in $MSTR and other U.S. stock token trading, enabling quality assets to circulate