PANews February 4th News, according to CoinDesk, Canaccord analyst Joseph Vafi significantly lowered his target stock price for Bitcoin treasury company Strategy from $474 to $185, a 61% decrease, but still maintained a “Buy” rating. The analyst pointed out that Bitcoin is currently in an “identity crisis,” with its trading pattern more closely resembling a risk asset rather than a safe-haven asset, and it has failed to follow the recent upward trend in gold. The report states that Strategy’s financial position is solid, holding over $44 billion in Bitcoin, with approximately $8 billion in convertible debt, enough to withstand market volatility. The new target price is based on a 20% rebound in Bitcoin’s price and a recovery in the company’s valuation multiple.
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