Benchmark has reiterated its 'Buy' rating for Strategy, maintaining a price target of $705, citing the company's strong Bitcoin leverage model and substantial holdings of 640,000 BTC. Analyst Mark Palmer downplays recent market negativity, highlighting Strategy's financial structure and innovative financing tools, including ultra-low interest convertible notes and perpetual preferred stock. The firm sees significant upside potential in Strategy's Bitcoin exposure, while acknowledging risks from BTC volatility and regulatory shifts.