Siebert sees Strategy buying 190K more BTC by Q3 next year

Strategy could buy more than 190,000 additional BTC by the third quarter of next year, bringing its total holdings to 1.04 million BTC, BitcoinTreasuries reported, citing U.S. investment bank Siebert. As of early November, Strategy held about 849,000 BTC. Siebert also maintained a Buy rating on Strategy and set a $350 price target. According to BitcoinTreasuries, Siebert’s $350 target for MSTR is based on two assumptions: a Bitcoin price of $175,000 by the third quarter of next year and a market net asset value multiple of 1.1x.