{"id":27755,"date":"2026-05-06T19:26:05","date_gmt":"2026-05-06T19:26:05","guid":{"rendered":"https:\/\/bitunikey.com\/news\/benchmark-cuts-strategy-price-target-as-bitcoin-thesis-gets-reset\/"},"modified":"2026-05-06T19:26:19","modified_gmt":"2026-05-06T19:26:19","slug":"benchmark-cuts-strategy-price-target-as-bitcoin-thesis-gets-reset","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/benchmark-cuts-strategy-price-target-as-bitcoin-thesis-gets-reset\/","title":{"rendered":"Benchmark cuts Strategy price target as Bitcoin thesis gets reset"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Benchmark has cut its 12\u2011month price target on Bitcoin treasury company Strategy from $705 to $570, keeping a Buy rating but marking its model to a cooler Bitcoin path after a brutal drawdown in both BTC and Strategy\u2019s stock.<\/p>\n<div id=\"cn-block-summary-block_572557b2830106aa4b07f87ad73951d3\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Benchmark has lowered its 12\u2011month price target on Bitcoin treasury company Strategy from $705 to $570, according to a new client note cited in market reports.<\/li>\n<li>The investment bank is maintaining its Buy rating, but is trimming upside assumptions after a sharp drawdown in both Strategy\u2019s share price and Bitcoin.<\/li>\n<li>The move follows months of volatility in Strategy stock, which Benchmark had previously defended as a sustainable levered play on corporate Bitcoin accumulation.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>Benchmark has reduced its target price for Strategy (NASDAQ: MSTR) from $705 to $570, according to market news shared on X and corroborated by recent analyst\u2011ratings rundowns. The firm is keeping a Buy rating, but the lower target reflects a cooler outlook on near\u2011term upside after Strategy\u2019s stock slumped alongside Bitcoin from its early\u2011year highs.<\/p>\n<p>Benchmark had been one of the most bullish houses on Strategy. In multiple notes over the past year, the bank\u2019s analyst, Mark Palmer, reiterated a $705 target anchored to an aggressive Bitcoin path, with at least one\u00a0<a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.investing.com\/news\/analyst-ratings\/strategy-stock-price-target-reiterated-at-705-by-benchmark-93CH-4490361\">Investing.com<\/a>\u00a0piece noting that the model assumed BTC would reach $225,000 by the end of 2026. That framework used a sum\u2011of\u2011the\u2011parts approach blending the projected value of Strategy\u2019s Bitcoin holdings, a 10x multiple on the company\u2019s 2026 \u201cBitcoin dollar gain,\u201d and a residual value for its legacy software unit.<\/p>\n<p>Even as MSTR fell more than 60% from mid\u20112025 peaks\u2014dropping from roughly $457 to near $150 in one six\u2011month stretch\u2014Benchmark repeatedly stuck with the $705 figure, arguing in a widely circulated\u00a0<a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cryptorank.io\/news\/feed\/f2227-strategy-whipsaw-benchmark-sees-705-in-2026-as-mstr-slumps-66\">note<\/a>\u00a0that Strategy was still \u201ca bitcoin\u2011focused treasury company, not a traditional software name,\u201d and that its BTC stash created substantial embedded optionality if the next Bitcoin leg played out.<\/p>\n<p>As of early Q2 2026, third\u2011party trackers like\u00a0<a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/bitcointreasuries.net\/public-companies\/strategy\">BitcoinTreasuries<\/a>\u00a0estimate that Strategy holds more than 818,000 BTC, making it the largest listed Bitcoin treasury in the world by a wide margin. That balance\u2011sheet exposure means any recalibration of BTC price targets flows directly into equity valuation, which helps explain why Benchmark is now trimming its own upside band to $570 as the crypto market reassesses cycle extremes.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>In an April research piece summarized by MEXC, Benchmark went out of its way to defend Strategy\u2019s STRC perpetual\u2011preferred funding model, arguing that using perpetual capital to buy Bitcoin is \u201csustainable\u201d and rejecting critics who likened the structure to a Ponzi scheme. The bank called Strategy \u201ca pioneer, not a pariah, in corporate Bitcoin adoption,\u201d and that broader thesis has not changed even as the headline target moves lower.<\/p>\n<p>For now, the $570 figure still implies substantial upside from current trading levels, but it also signals that even permabulls like Benchmark are beginning to mark their models to a less euphoric Bitcoin path. How that interacts with on\u2011chain dynamics and ETF flows is a theme crypto.news has been tracking closely in recent\u00a0coverage, alongside deeper dives into Strategy\u2019s treasury\u2011driven equity story in a\u00a0feature\u00a0and a valuation\u2011focused\u00a0analysis.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Benchmark has cut its 12\u2011month price target on Bitcoin treasury company Strategy from $705 to $570, keeping a Buy rating but marking its model to a cooler Bitcoin path after&hellip;<\/p>\n","protected":false},"author":1,"featured_media":21224,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-27755","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/27755","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=27755"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/27755\/revisions"}],"predecessor-version":[{"id":27756,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/27755\/revisions\/27756"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/21224"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=27755"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=27755"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=27755"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}