TD Cowen

TD Cowen has raised its price target on Strategy (MSTR) to $400, pointing to its strong bitcoin accumulation and shift in financing strategy.

TD Securities has established Public Bitcoin Treasury Companies (PBTCs) as a distinct investable equity category, defining formal institutional standards.

TD Cowen initiated coverage on three public Bitcoin treasury firms. The firm also predicted that bitcoin will hit roughly $140,000 this year.

TD Cowen says Trump’s second term offers a rare chance for crypto progress in 2026, with deregulation and aligned regulators driving gains — but timing is crucial for lasting impact.

TD Cowen analysts warn that Strategy’s stock may stay under pressure as they expect MSCI to formally decide by mid-January to remove PBTCs like Strategy from all its indexes in February.

TD Cowen thinks that the Bitcoin price will hit $141,000 by December.

Strategy (MSTR) raised $2.52 billion through its STRC preferred stock IPO and plans to invest nearly all proceeds into Bitcoin.

TD Cowen has raised its price target for Strategy’s stock from $590 to $680 per share, citing the company’s deepening role as a Bitcoin...

TD Cowen's bullish report explains MicroStrategy's strategic shift to Bitcoin, foreseeing its rise as a superior store of value.