Investment bank TD Cowen has published a new report on Bitcoin and the company that is the largest institutional BTC holder, MicroStrategy (now Strategy). According to The Block, Strategy first assessed the impact of its latest move, the euro-denominated preferred stock offering. Second, it announced its BTC year-end price forecast. At this point, he estimated that TD Cowen Strategy would add 6,720 BTC to the company's treasury with the new euro-denominated preferred stock offering. TD Cowen analysts Lance Vitanza and Jonnathan Navarrete said Strategy's initial offering of perpetual Stream preferred stock, priced at €80 per share last week, represents the company's entry into euro-based Bitcoin-backed credit markets and opens a new financing channel. At this point, they predicted the funds from the euro offering would be used to purchase 6,720 BTC at an estimated average price of $104,500. Fundamental, Bullish and Bearish Scenarios for Bitcoin! Apart from this, TD Cowen stated that the base scenario for Bitcoin will be $141,277 by the end of the year, December 31. For the bear and bull scenarios, he predicted a rise of $160,000 and a drop of $60,000. Analysts noted that the base case model is based on Strategy purchasing approximately $4 billion worth of Bitcoin on a quarterly basis. The bull scenario is based on a purchase of more than $4.5 billion, while the bear scenario is based on the suspension of purchases “due to market conditions or a specific loss of access to capital markets.” *This is not investment advice. Continue Reading: TD Cowen Explains Bull and Bear Scenario for Bitcoin: Shares Price Target for Both!
XRP in the Red on All Timeframes
