BITCOIN BOTTOM IN, $MSTR HOLDS STRONG Bernstein says Bitcoin has likely bottomed and is set to rise, keeping a $150K price target for 2026. Despite a 50% drop from its peak, Strategy (MSTR) has remained resilient, now holding 3.6% of total Bitcoin supply (~$53.5B). The firm sees MSTR as a high-beta play on Bitcoin, backed by a strong balance sheet. Instead of cutting exposure, Strategy added more Bitcoin at recent lows, raising $7.3B in 2026 to expand its holdings.