Wall Street analysts are firmly behind the strategy’s (Mstr) aggressive escalation of its Bitcoin (BTC) acquisition strategy after the company has revealed plans to double its capital collection’s ambitions.

“While the number of companies that have tried to repeat the strategy’s Bitcoin acquisition strategy has continued to grow rapidly … Mstr yesterday issued a reminder of the scope of its first-mover advantage and how its ability to accelerate its accumulation of Bitcoin has continued to rise when its platform has scaled,” wrote the benchmark’s field, and repeated its purchase of rating and the purchase of rating and $ 650. Price targets.

Although MSTR deals with more than twice the value of its Bitcoin stocks, Palmer says the level is “attractive” thanks to performing President Michael Saylor and Teams “demonstrated the ability to create shareholder value through its treasury.”

Alongside the reporting of its results in the first quarter Thursday night, strategy announced an extension of its recent 21/11 plan-raised $ 42 billion via the issuance of joint shares and debt (or debt-like securities)-to a total of $ 84 billion.

TD Cowens Lance Vitanza, meanwhile, recognized the ambition of the updated strategy and called it “aggressive perhaps but in no way out of the question.” The company noted that the strategy has already collected $ 28.3 billion according to the original 21/21 plan and that the company’s significantly larger market hood of $ 111 billion and deep trade liquidity strengthens the credibility of the new fundraising effort. With an average daily stock volume of $ 5.6 billion, Vitanza suggested – to repeat his purchase rating and $ 550 price target – raising another $ 56.7 billion over the next 32 months is realistic.

Both analysts also praised the strategy’s decision to increase its Bitcoin-related performance goals, including raising its 2025 BTC yield to 25% (from 15%) and BTC $ win to $ 15 billion (from $ 10 billion). Benchmark’s palms pointed out that the company has already achieved ~ 90% of its original BTC yield in just four months.

Mstr shares are higher by 1.8% to $ 388 early Friday as Bitcoin continues to tread water just below the level of $ 97,000.

Earnings Call High Points

“The adoption of the Bitcoin standard of several companies is beneficial, legitimizing Bitcoin and attracts more capital,” Saylor said at the conference after earnings on Thursday night. “As more companies participate, it stabilizes it and increases Bitcoin’s award,” he continued. “Each market needs its own BTC companies, and when more joins, it speeds up the transition to the Bitcoin standard and pushes others to participate.”

Use of concern over dilution emphasized CEO FONG LI The Calretive Character of Equity:

“Issuing equity of more than once mnav [the multiple of the company’s net asset value] is accretive, not dilution, “said Li.” As MNAV rises, equity issuance becomes more like fixed income, and we aim to make the market for fixed income more efficient. “

Recognizes the company’s $ 5.9 billion unrealized losses in the first quarter due to Bitcoin’s price declines under recently adopted fair value accounts, CFO Andrew Kang did not remain effortlessly:

“Despite volatility, we believe that transparency is crucial … We expect more positive swings over time and adapt our long -term strategy.”