$BTC

Strategy Stock Could Climb as New Rival Twenty One Validates Its Bi t c oin Strategy

Michael Saylor's bitcoin buying strategy had both believers and skeptics. But a new rival just emerged, already holding nearly $4 billion B T C on its balance sheet—and it's a bullish sign, according to at least one Wall Street analyst.

When SoftBank, Tether, and Cantor Fitzgerald unveiled plans to launch a new bitcoin investment company called Twenty One, structured explicitly around holding bitcoin as its primary business, many called it a significant rival to Saylor's Strategy (MSTR). Its day-one bitcoin balance sheet holding would rank it as the third-largest publicly held bitcoin treasury on day one.

In traditional finance, one could argue that such a big competition could hamper a dominant company's market share and capital raise opportunities, especially since Twenty One is already potentially launching with over 42,000 B T C at launch (worth nearly $4 billion at spot price).

TD Cowen maintained its $550 price target for MSTR and projects the company could hold 757,000 BTC by the end of fiscal year 2027 — about 3.6% of bitcoin’s total supply. The analysts said that if bitcoin hits an average price of $170,000 by then, TD Cowen estimates that stash could be worth $129 billion.

The bullish impact of this rivalry is already prominent in the market. The shares of Cantor Equity Partners (CEP), Twenty One's SPAC vehicle, have already climbed as much as 130% since the announcement, while MSTR stocks held strong.