BTIG Slashes Strategy Price Target to $250 as Bitcoin Trades Below Cost Basis

BTIG Research analyst Andrew Harte slashed the firm's price target on Strategy Inc. from $350 to $250 while maintaining a Buy rating. The new target still implies roughly 150% upside.

The revision comes as Bitcoin trades between $58,000 and $61,000, a far cry from the $70,000 levels reached earlier in 2026.

Strategy, formerly MicroStrategy, is the world's largest corporate holder of Bitcoin, possessing roughly 847,363 BTC. The average acquisition cost sits around $66,385 per coin, meaning the company is currently underwater on its aggregate position.

Wall Street is broadly recalibrating its outlook. TD Cowen cut its target to $260 from $400, while Canaccord slashed its projection to $130. Despite these sharp reductions, most firms maintain bullish ratings.

BTIG's $250 target signals confidence that Bitcoin will recover above Strategy's cost basis, moving the treasury back into the green.