TD Cowen Maintains Bullish Target for Strategy Amid Bitcoin Accumulation

According to BlockBeats, investment bank TD Cowen has maintained a bullish target price of $680 for Strategy, predicting that by the end of 2027, Strategy will accumulate 4.3% of Bitcoin's total supply, equivalent to 900,000 coins. The bank forecasts Bitcoin's price to reach $232,000. Currently, MSTR is trading at $363, with Bitcoin priced above $116,000. Today, Strategy announced a relaxation of its equity sale financing restrictions, allowing the issuance of common stock when its share price is less than 2.5 times its corresponding Bitcoin holdings. This move aims to provide Strategy with greater flexibility to raise funds for increasing its Bitcoin holdings. The decision has sparked market debate, with analysts from TD Bank noting that the initial financing restrictions were a defensive strategy to protect the value of reserve assets. However, it has now evolved into an opportunistic strategy aimed at accelerating shareholder value creation.