Strategy Achieves S&P Credit Rating Milestone Amid Bitcoin Holdings
- Strategy (MSTR) received its first S&P credit rating of B- with a stable outlook.
- The company holds approximately 641,000 BTC, valued at around $70 billion, representing about 3% of all bitcoin that will ever exist.
- In total, Strategy’s preferred equity program has raised $6.7 billion across four issues this year.
- The company aims for a 30% bitcoin yield target, with a current year-to-date yield of 26%.
- Canaccord Genuity raised its price target on Strategy shares to $474, up from $464.
The S&P rating acknowledges Strategy’s disciplined capital management and highlights its dependence on the value of bitcoin, currently priced at $106,673.97. Analysts believe that as bitcoin gains mainstream acceptance, the company’s credit standing could improve.
With a strong position as the largest corporate holder of bitcoin and significant fundraising success, Strategy is well-positioned for future growth in the cryptocurrency market.(Source)
