Bernstein Predicts Bitcoin Bottomed: $150K Target as Strategy (MSTR) Holds $53.5B in BTC

Wall Street broker Bernstein says bitcoin has likely hit its bottom, reaffirming a $150,000 year-end price target as strong ETF flows and growing corporate treasury demand support a rebound.

Analysts led by Gautam Chhugani highlighted that Strategy (MSTR), a high-beta proxy for bitcoin, remains resilient, now holding roughly 3.6% of total bitcoin supply, valued at around $53.5 billion, according to StreetInsider.

The firm has continued adding to its holdings at recent lows, raising $7.3 billion in 2026 to expand its position.

Bernstein also noted rising interest in Strategy’s preferred shares, STRC, whose structure helps limit dilution while providing steady long-term capital.

Despite bitcoin’s sharp pullback from late-2025 highs, the broker characterized the correction as a temporary reset in sentiment rather than a breakdown in fundamentals, with institutional flows and ETF demand pointing to further upside.

Strategy’s multi-billion dollar raise to buy bitcoin

Strategy has moved to significantly expand its capacity to raise capital through at-the-market (ATM) offerings, a step that could further support its aggressive Bitcoin treasury strategy.

The company disclosed on March 23 that it has added Moelis & Company, A.G.P./Alliance Global Partners, and StoneX Financial as new sales agents under its existing Omnibus Sales Agreement, joining a syndicate that already included major Wall Street firms such as Barclays, Morgan Stanley, TD Securities, and Cantor Fitzgerald.

These additions give Strategy the ability to execute additional ATM programs for its Class A common stock and preferred shares, allowing the company to sell up to $21 billion of new common stock, $21 billion of STRC preferred shares, and $2.1 billion of STRK preferred shares.

These new programs supplement existing authorizations, while the prior STRK ATM program was terminated and replaced by the new $2.1 billion offering.

Bitcoin surged near $71,000 on Monday at the start of the week after the U.S. President Donald Trump announced a brief pause on planned strikes against Iran, only to retrace as Tehran denied talks had occurred, highlighting market sensitivity to geopolitical uncertainty.

Iran’s Foreign Ministry, via state media, denied that any talks had occurred in the form Trump described. Bitcoin still held strong.

Despite all the volatility, BTC has risen roughly 7% since late February, outperforming traditional assets, while technicals suggest consolidation with potential moves toward $85,000–$90,000 if $75,000 is breached.