TLDR
- MSTR rose ~6% in pre-market Wednesday, lifted by rising Bitcoin prices and easing geopolitical tensions.
- BTIG analyst Andrew Harte reiterated a Buy rating with a $250 price target, implying ~102% upside.
- Strategy CEO Phong Le said the STRC preferred stock product hit $5 billion in cumulative revenue in just seven months.
- Le compared STRC’s growth pace to the iPhone, noting it outpaced Gold ETFs, Ethereum ETFs, and Apple’s own early revenue ramp â with only BlackRock’s Bitcoin ETF (IBIT) growing faster.
- MSTR is still down more than 21% year-to-date, and technical analysis points to continued bearish pressure below the $138 resistance level.
Strategy (MSTR) has had a rough 2026 on paper, but Wednesday’s pre-market told a different story. The stock jumped roughly 6% as Bitcoin prices climbed and headlines around a US-Iran ceasefire lifted risk sentiment across markets.
The stock closed Tuesday at $123, down 3.11% on the day. That puts it more than 21% in the red year-to-date, having opened 2026 at $157.
BTIG analyst Andrew Harte added fuel to the pre-market move, reiterating his Buy rating and a $250 price target on MSTR. That target implies around 102% upside from current levels. Wall Street broadly agrees â MSTR carries a Strong Buy consensus from 12 analysts over the past three months, with an average price target of $284.17, implying nearly 130% upside.
Harte’s bullish case centers on Strategy’s STRC product â a high-yield preferred stock that pays a variable dividend of around 11.5%. The structure lets Strategy raise capital to buy more Bitcoin without diluting common shareholders.
The way it works: STRC investors get a fixed slice of Bitcoin’s returns, while anything above that threshold flows back to MSTR common holders. Harte says this effectively packages some of Bitcoin’s volatility into a more stable, income-like instrument â making it appealing to a wider set of investors.
Strategy raised more than $1.5 billion through STRC in March alone, a figure Harte used to highlight the product’s strong market traction.
CEO Calls It an “iPhone Moment”
Strategy CEO Phong Le went further, calling STRC’s growth the company’s “iPhone moment” in a recent interview with Natalie Brunell. He pointed out that STRC hit $5 billion in cumulative revenue in just seven months â faster than Apple’s first $5B, which took a year, and Google Ads, which took four years.
Le also stacked it up against ETF launches. Gold ETFs took nearly five years to hit $5 billion in AUM. Ethereum ETFs took about a year. The only product that beat STRC’s pace, according to Le, was BlackRock’s Bitcoin ETF (IBIT), which got there in roughly five months.
Le acknowledged the road wasn’t smooth. STRC was the fourth product iteration, and he drew a direct line to the iPhone’s own early struggles before it found its footing.
Technical Picture Still Bearish
Despite the pre-market pop, the chart isn’t giving bulls much to work with. MSTR’s four-hour chart shows an ascending broadening wedge pattern â a formation that typically signals continued volatility rather than a clean breakout.
The RSI sits at 42, below the key 50 threshold that would indicate buyers are returning with conviction. A drop below the $118 support level remains a real risk if buying pressure fades.
The Awesome Oscillator (AO) bars have turned green, hinting the downtrend may be losing steam. But the stock needs a confirmed close above $138 to flip the technical picture and invalidate the bearish case.
MSTR’s average Wall Street price target currently stands at $284.17.
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