Benchmark keeps $570 target for Strategy as cash supports Bitcoin buying

Benchmark has reiterated its $570 price target on Strategy, keeping a bullish view on the software company’s Bitcoin-heavy balance sheet and its long-term accumulation plan.

The move comes as Benchmark pointed to disciplined capital allocation and a growing cash reserve, both of which it said strengthen Strategy’s ability to keep buying Bitcoin over time. The firm’s view remains tied to the company’s unusual position in public markets: Strategy is not being judged only as a software name, but also as a corporate proxy for BTC.

That matters because Strategy has built a reputation around using excess capital to add to its Bitcoin holdings rather than treating cash as a dormant balance-sheet asset. Benchmark’s call suggests it sees that approach as still intact, even with Bitcoin’s volatility and the scrutiny that comes with holding a large treasury position in the token.

Cash is part of the story now. A larger reserve gives the company more room to manage day-to-day obligations while preserving flexibility for future purchases, instead of being forced to slow accumulation when markets turn choppy. For investors, that keeps the focus on whether Strategy can continue pairing operating discipline with steady BTC buying.

Benchmark’s target also reflects the idea that the market may still be underpricing that structure. If Bitcoin remains firm and Strategy keeps adding through its treasury strategy, shares could continue to trade with the coin’s direction as well as with the company’s own capital-allocation record.

For now, the key watch point is whether Strategy continues to build cash while maintaining its Bitcoin purchase cadence. Any update on treasury activity, financing, or changes in the pace of BTC accumulation will likely be the next marker traders use to judge whether Benchmark’s $570 target still has room to stand.