Maxim Group Cuts MSTR Target to $215 as Strategy Keeps Selling Bitcoin

Key highlights:

  • Maxim Group reduced its MSTR target from $250 to $215
  • This came after Strategy sold more Bitcoin this week
  • Cantor Fitzgerald and B. Riley also lowered their MSTR price targets

Wall Street is gradually changing from its bullish stance on Strategy’s MSTR. Maxim Group is the latest institution to cut its target for the stock, taking it down from $250 to $215. The investment bank, however, kept its buy rating on the shares.

This update came as Strategy faces questions about its Bitcoin sales. The company had always maintained a “never sell” posture for BTC. This has turned on its head as the firm looks to stabilize its cash reserves.

Strategy under pressure as it makes more Bitcoin sales

On Monday, Strategy said it sold 1,638 Bitcoin for $104.73 million. The tokens were sold at an average price of $63,957 per coin.

The sale reduced its Bitcoin holdings to 842,138 BTC. While that is still the largest corporate Bitcoin treasury in the world, the move surprised many investors because the company had repeatedly promoted a “never sell” approach in the past. 

Michael Saylor still defended this stance, saying he personally has not sold any Bitcoin.

This was not the first sale. In June, the company sold 32 Bitcoin worth $2.5 million. Then in the first week of July, it sold another 3,588 Bitcoin for $216 million. Strategy has now resumed selling again after a four-week break,

The transactions have increased concerns that the company would keep reducing its holdings if the bear market persists.

MSTR stock targets continue to fall

Maxim is not the only Wall Street firm that has made cuts. Cantor Fitzgerald lowered its target for MSTR from $212 to $186. The firm also said it no longer expects BTC to hit $111,000 by August 2027.

B. Riley also cut its price target from $215 to $155. The firm also reduced its Bitcoin price target from $81,500 to $65,000. B. Riley attributed the downgrade to Strategy’s decision to stop buying Bitcoin.

Interestingly, there may still be more sales coming soon from the company. Lookonchain flagged a wallet linked to Strategy moving 1,030 Bitcoin worth over $66 million to another wallet. The transfers came after an earlier move of 300 BTC worth $19 million earlier in the week.

Crypto analyst Ted Pillows said that similar wallet transfers in the past were followed by Bitcoin sales.

Big losses but strong cash reserve

The company reported its second-quarter 2026 results that showed its current struggles. Strategy’s revenue came in at $122.37 million but posted a net loss of $8.22 billion. Much of that came from the $8.32 billion unrealized loss in its BTC holdings.

Meanwhile, the firm has boosted its financial position by raising cash through stock sales. It sold 3.01 million MSTR shares, generating $290.6 million in net proceeds.

The company added $250 million to its U.S. dollar reserve, which brought the total reserve to $4 billion. It also used $28.9 million to repurchase preferred shares and added $11.7 million to its cash balance.

Management said the reserve will help support dividend payments on preferred stock and cover interest payments on outstanding debt. Strategy reported a large quarterly loss but saw a 4.5% BTC Yield year to date.

Source:: Maxim Group Cuts MSTR Target to $215 as Strategy Keeps Selling Bitcoin

Updated: August 6, 2026 at 9:46 am
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