Canaccord analysts cut Strategy’s price target by 61% while keeping a buy rating

Canaccord’s Joseph Vafi adjusted Strategy’s Bitcoin price target down by 61% to 185 USD, while still advising to buy. This suggests confidence in the company’s fundamentals despite current market challenges.

Bitcoin is currently viewed as having an identity crisis, behaving more like a risk asset rather than a safe haven, as it has not tracked gold’s recent price surges. The new price target anticipates a 20% bounce in Bitcoin prices.