Investment bank TD Cowen raised Strategy's share price target from $590 to $680
Internet reports that investment bank TD Cowen raised Strategy's stock price target from US$590 to US$680 and predicted that Bitcoin is expected to reach US$155,000 in December this year. Strategy is currently the listed company with the largest holdings of Bitcoin. After its recent purchase of Bitcoin for US$472.5 million, its total holdings have reached 601,550 BTC. The bank's benchmark forecast for Bitcoin is US$128,000, and its most pessimistic forecast is US$55,000. Strategy plans to raise US$84 billion for further purchases of Bitcoin and expects to hold up to 900,000 BTC units by 2027. TD Cowen advises investors to consider Strategy's preferred stock to capture returns and reduce volatility risk.
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