Cantor Fitzgerald Adjusts Strategy Price Target, Maintains Bullish Bitcoin Outlook

Key Takeaways

• Cantor Fitzgerald lowers its price target on Strategy (MSTR) stock.
• Maintains a "buy" rating despite the target reduction.
• Dismisses fears of forced liquidation for Strategy.
• Anticipates Bitcoin surpassing gold's market capitalization.

Cantor Fitzgerald Cuts Strategy Price Target but Remains Bullish on Bitcoin

US-based financial firm Cantor Fitzgerald has adjusted its price target on Michael Saylor’s Bitcoin-heavy company, Strategy, but maintains a bullish stance on the cryptocurrency’s long-term upside, downplaying fears of forced liquidation, according to the Financial Times.

Cantor Fitzgerald reportedly lowered its 12-month price target on Strategy stock by 60%, adjusting it to $229, down from $560, according to a Thursday analyst note seen by the FT. Despite the downgrade, Cantor’s “buy” rating reportedly remains unchanged, as the bank stated that fears surrounding Strategy’s forced liquidations were “not warranted,” despite receiving significant attention.

Strategy has “enough cash” to fund dividend payments for 21 months, Cantor Fitzgerald’s analysts reportedly said. “Also, MSTR can still raise cash through equity facilities should it be needed. Absent a 90% pullback from current BTC levels, This Fear is Not Warranted.”

However, Strategy’s share price has significantly underperformed Cantor’s previous target. Cantor Fitzgerald is the ninth-largest shareholder in the company.

Strategy’s stock traded around $186 at the time of writing, reflecting a 27% decrease over the past month and a 35% year-to-date decline, based on data from Google Finance.

MSCI Risk and Bitcoin at $1.5 Million

Strategy’s stock still faces short-term concerns, including the MSCI Index’s potential removal of companies with digital asset holdings exceeding 50% of their total assets.

If enacted, this could result in the “forced selling of MSTR,” but Cantor suggested that this is a “somewhat warranted” fear that presents only a “near-term flow headwind.”

Nevertheless, Cantor remains optimistic about Strategy and Bitcoin's (BTC) price momentum, describing the current pullback as a “healthy” correction as BTC is on track to surpass the market capitalization of gold.

“We continue to believe that we are not far away from Bitcoin overtaking Gold’s market cap,” Cantor reportedly wrote. “As of today, Bitcoin’s market cap is just 6.1% of Gold’s market cap. To overtake Gold, Bitcoin would need to be priced at $1,577,860.”

Other prominent analysts have also predicted that Bitcoin will eventually surpass gold's market capitalization. For example, Joe Burnett predicted that this development would see Bitcoin exceed $1.8 million by 2035.

Still, Bitcoin’s price would need to increase nearly 16-fold to exceed the value of the world’s largest precious metal.

Since the start of 2025, gold’s price has increased by 58%, outperforming Bitcoin’s 1.5% year-to-date decrease, according to TradingView data.