Analysts are optimistic about Strategy's long-term bitcoin strategy, expecting accelerated accumulation to resume in 2026.

Jinse Finance reported that although Strategy's bitcoin accumulation slowed in the third quarter and the mNAV premium dropped to about 1.2 times, a nearly two-year low, analysts from several institutions still maintain a bullish outlook, believing that the company's long-term model of exchanging capital for bitcoin remains robust. An exchange maintained its "outperform" rating on Strategy with a target price of $586, noting that Strategy holds about 640,000 bitcoins, accounting for 3.1% of the total supply, and bitcoin's year-to-date return has reached 26%, close to the full-year target of 30%. TD Cowen believes that the B- credit rating granted by S&P will open up an institutional capital channel of about $4.9 trillion for the company, potentially tripling its financing capacity, and expects capital activity to rebound in 2026. Benchmark regards the premium compression as a cyclical adjustment, maintains a target price of $705, and states that the company still has long-term potential to attract institutional funds.