MSTR Stock Surges as Strategy Sells More BTC, Analysts Eye Up to 2x Potential Upside

Strategy, the world's largest Bitcoin treasury firm, sold another $104.73 million worth of BTC (1,638 units) on August 3rd to fund its dividend obligations and deepen its repurchase program for preferred stock Stretch (STRC).

The sale was part of Strategy's plan to monetize its $5 billion target in BTC sales, which is still only 6.5% achieved so far.

MSTR stock saw a relief bounce after the news, rising by 1.7% on August 3rd to close at $94.86. Despite this, analysts from Barclays and Cantor Fitzgerald expect MSTR to surpass its current price range of $100-$180 and hit over $240.

However, not everyone is optimistic about Strategy's sales plan. Peter Schiff slammed Michael Saylor for the continued dilution of MSTR shares and BTC sales, calling it a burden to both MSTR and BTC.