Investment bank TD Cowen raised the target stock price of Strategy from $590 to $680

ChainCatcher news, according to an investment bank TD Cowen report, the investment bank TD Cowen has raised the target stock price of Strategy from $590 to $680, and predicts that Bitcoin is expected to reach $155,000 this December. Strategy is currently the publicly traded company with the largest Bitcoin holdings, and after recently purchasing $472.5 million worth of Bitcoin, its total holdings have reached 601,550 BTC.

The bank's benchmark price prediction for Bitcoin is $128,000, with the most pessimistic expectation being $55,000. Strategy plans to raise $84 billion for further Bitcoin purchases, expecting to hold up to 900,000 BTC by 2027.

TD Cowen recommends that investors consider Strategy's preferred stock to gain returns and reduce volatility risk.