$850 billion asset management firms are optimistic about MSTR, and the Bitcoin treasury model gains mainstream recognition

AllianceBernstein, a global leading asset management firm with an asset scale of $850 billion, recently reiterated a “Buy” rating for MicroStrategy (MSTR), maintaining a target price of $450. This statement marks that the Bitcoin treasury company model is gaining increasing recognition from mainstream institutions and also reflects the continuous deepening of institutional investors’ interest in Bitcoin-related asset allocations.

The Shift Behind Institutional Recognition

AllianceBernstein’s latest rating is not only a support for MSTR stock but more importantly a confirmation of the entire Bitcoin treasury company model. This top-tier global asset manager pointed out that MSTR is no longer just a simple software enterprise but an asset management vehicle deeply tied to the long-term adoption trend of Bitcoin.

This change in perception is crucial. It means that institutional investors are reassessing MSTR’s value proposition, shifting from traditional software business earnings to leveraged returns brought by Bitcoin strategic reserves. Currently, Bitcoin is priced at $96,509, up 7.06% over the past 7 days, and this upward trend provides practical support for the optimistic attitude of institutions.

Why MSTR’s Dual Structure Is Recognized

Combining Operational Resilience and Leverage Returns

MSTR’s core competitiveness lies in its unique dual structure:

• Software business provides stable cash flow and operational foundation
• Bitcoin as a long-term strategic reserve asset releases leverage returns during price uptrends

AllianceBernstein emphasizes that this structure not only ensures the company’s risk resistance amid market volatility but also enables shareholders to achieve higher multiples of returns when Bitcoin enters a new upward cycle. In other words, MSTR is not merely a Bitcoin gamble but a combination of maintaining business fundamentals while gaining Bitcoin exposure.

Discipline in Capital Allocation

In valuation assessments, AllianceBernstein specifically mentions MSTR’s high discipline in managing its balance sheet. This includes:

• Clear and consistent capital allocation logic
• Stable and transparent Bitcoin accumulation strategy
• Expanding Bitcoin holdings through structured financing while avoiding excessive dilution of shareholder equity

This transparency and discipline are especially important for institutional funds that prefer compliant channels. Against the backdrop of gradually clearer regulatory environments, this predictability greatly enhances MSTR’s allocation value within institutional portfolios.

The Appeal of Indirect Exposure

For many institutional investors, directly holding Bitcoin involves multiple challenges such as custody, compliance, and liquidity. MSTR offers a solution by gaining Bitcoin exposure through stock holdings, which has obvious advantages:

• No need for direct custody of digital assets
• Tradable and settleable through traditional stock markets
• Meets institutional compliance requirements
• Enjoys the potential gains from Bitcoin price increases

AllianceBernstein evaluated MSTR’s performance under different Bitcoin price scenarios and believes that when Bitcoin enters a new upward phase, MSTR stock has a strong correlation with Bitcoin prices. This means investors can gain a Bitcoin-like price exposure through MSTR while remaining within the traditional financial framework.

A Larger Market Trend

This institutional recognition reflects a broader trend: Bitcoin is gradually being viewed as a macro asset rather than just a cryptocurrency. As institutional investors continue to deepen their interest in Bitcoin-related assets, the Bitcoin treasury company model is attracting more mainstream capital.

Currently, Bitcoin’s market capitalization has reached $1.93 trillion, accounting for 59.13% of the cryptocurrency market. Such scale and market position compel institutional investors to seriously consider Bitcoin asset allocation. As one of the largest publicly listed companies holding Bitcoin, MSTR naturally becomes an important target for such allocations.

Summary

AllianceBernstein’s reaffirmed rating essentially confirms the sustainability of the Bitcoin treasury company model. This not only suggests that MSTR stock is likely to continue attracting institutional attention but more importantly, marks the beginning of Bitcoin’s transition from a fringe asset to a mainstream asset class. For investors seeking to participate in Bitcoin’s long-term trend through the stock market, MSTR’s value proposition has shifted from a software enterprise to a Bitcoin exposure tool, and this shift has been endorsed by top global asset management institutions.