TD Cowen: Strategy Equity Bitcoin Cycle Mechanism Provides Basis for Its Premium, Maintains Buy Rating

2025-07-01 19:53:32
Collection

ChainCatcher news, according to The Block, investment bank TD Cowen pointed out that the equity-bitcoin loop mechanism of Strategy provides a reasonable basis for its net asset value premium. Despite the risks, it maintains a buy rating.

In the second quarter, Strategy purchased 69,140 bitcoins and currently holds 597,325, exceeding TD Cowen's forecast, which brings its stock's premium over net asset value to about 63%. TD Cowen maintains a target price of $590 per share, viewing Strategy as the highest quality publicly traded bitcoin spot investment proxy, and expects its holdings to reach 850,000 bitcoins by 2027, accounting for 4.1% of the total supply.

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.
ChainCatcher Building the Web3 world with innovators