📝 TD Cowen Explains Bull and Bear Scenario for Bitcoin: Shares Price Target for Both!

[{"type":"bulleted-list","children":[{"type":"list-item","children":[{"text":"Investment bank TD Cowen has published a new report on Bitcoin and the company that is the largest institutional BTC holder, MicroStrategy (now Strategy)."}]},{"type":"list-item","children":[{"text":"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."}]},{"type":"list-item","children":[{"text":"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."}]},{"type":"list-item","children":[{"text":"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."}]}]},{"type":"heading-two","children":[{"text":"Fundamental, Bullish and Bearish Scenarios for Bitcoin!"}]},{"type":"bulleted-list","children":[{"type":"list-item","children":[{"text":"Apart from this, TD Cowen stated that the base scenario for Bitcoin will be $141,277 by the end of the year, December 31."}]},{"type":"list-item","children":[{"text":"For the bear and bull scenarios, he predicted a rise of $160,000 and a drop of $60,000."}]},{"type":"list-item","children":[{"text":"Analysts noted that the base case model is based on Strategy purchasing approximately $4 billion worth of Bitcoin on a quarterly basis."}]}]},{"type":"paragraph","children":[{"text":"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.”"}]},{"type":"paragraph","children":[{"text":"\n"},{"type":"topic","character":"TDCowen","children":[{"text":""}]},{"text":""},{"type":"topic","character":"Bitcoin","children":[{"text":""}]},{"text":""},{"type":"topic","character":"MicroStrategy","children":[{"text":""}]},{"text":" "},{"type":"topic","character":"Jucom","children":[{"text":""}]},{"text":" "},{"type":"topic","character":"cryptocurrency","children":[{"text":""}]},{"text":""}]}]