Although BTC has fallen 54% from its peak of $125,000, this is much milder than the 75-90% declines seen in past cycles, Bernstein stated in a report. It added that Strategy has invested approximately $1.4 billion this year to purchase about 175,000 BTC and continues to buy even as U.S. mining companies are selling. Bernstein also maintained its year-end target price of $150,000, though it assessed it as an ambitious target after the recent decline.
