Strategy Shares Rise 1.89% as Barclays Raises Target to $175

Strategy’s Class A shares closed 1.89% higher at $154.34 on Oct. 9. Barclays’ 12-month target for the company was $175, up from $160, with an Overweight rating maintained.

The stock opened at $154.22, reached $158.11 and fell as low as $150.50 before ending the session at 4 p.m. ET (20:00 UTC). Trading volume totaled 16,009,773 shares. The $175 figure is an analyst target for the next 12 months, not a guaranteed market price.

Strategy uses its corporate balance sheet to accumulate Bitcoin (BTC), leaving its common stock highly sensitive to Bitcoin prices and the value of its digital-asset holdings. The company bought 334 BTC for $28.7 million during Oct. 1–4, at an average price of $85,838.80 per BTC.

As of 4 p.m. ET on Oct. 4, Strategy held 848,000 BTC acquired for $63.97 billion, with an average purchase price of $75,440.70 per BTC. The company funded $15.7 million of the latest purchase with net proceeds from MSTR stock sales and $13 million with U.S. dollar cash.

Strategy estimated a $20.91 billion digital-asset gain and $1.88 billion deferred tax expense for the three months ended Sept. 30; KPMG had not audited or reviewed the figures.

The purchase followed Strategy’s continued use of equity financing to add Bitcoin to its holdings.