#Over 100 Companies Hold Over 830,000 BTC#
According to reports as of June 19, more than 100 companies collectively hold over 830,000 BTC, worth about $86.476 billion.
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Wall Street investment bank Monness Crespi has downgraded the Strategy rating to Sell, believing that its stock price still has room to fall.
Golden Finance reports that despite Strategy (MSTR) aggressively buying Bitcoin (BTC), leading to its stock price soaring over 2,500% in the past five years, Wall Street analysts believe that the situation may soon reverse. Investment bank Monness Crespi has downgraded MSTR's rating to sell, believing there is further room for its stock price to drop. Monness Crespi analyst Gus Gala believes that it will become increasingly difficult for MSTR to raise funds by issuing stock to purchase Bitcoin, forcing the company to turn to fixed income instruments: "If the proportion of fixed income securities in the issuance is not large, the funding strategy for BTC will face greater challenges." Gala's target price for Strategy is $220, which means a decline of just under 30% from the current range of around $300.