TD Cowen Maintains Buy Rating on Strategy Amid Bitcoin Holdings Surge

According to BlockBeats, investment bank TD Cowen has highlighted the equity-Bitcoin cycle mechanism of Strategy as a reasonable basis for its net asset value premium, despite associated risks. The bank continues to maintain a buy rating for the company. In the second quarter, Strategy acquired 69,140 Bitcoins, bringing its total holdings to 597,325, surpassing TD Cowen's predictions. This acquisition has resulted in a premium of approximately 63% over the company's net asset value. TD Cowen has set a target price of $590 per share, considering Strategy as the premier publicly listed Bitcoin spot investment proxy. The bank anticipates that by 2027, Strategy's Bitcoin holdings will reach 850,000, accounting for 4.1% of the total supply.