• Bernstein’s new forecast pushes the $150,000 level to mid-2027 and the next major peak to $300,000 in 2029.

• It also cut its price target on MSTR stock to $350 from $450.

• The firm cited its revised Bitcoin cycle outlook and Strategy’s equity dilution as reasons for the lower MSTR price target.

Michael Saylor-backed Strategy (MSTR) fell in pre-market trading on Friday as Bitcoin (BTC) struggled below $80,000 and Bernstein slashed its price target by $100. 

The firm also pushed its forecast for Bitcoin to hit $150,000 by a year. Bernstein previously expected Bitcoin to reach $150,000 by the end of 2026 and saw the next cycle peak at around $200,000 in 2027. The new forecast pushes the…