TD Cowen has raised its outlook on MicroStrategy—now simply Strategy—citing the company’s relentless Bitcoin buying spree and bold long-term vision.
The firm bumped its price target on the stock to $680, up from $590, as Bitcoin hit a new all-time high above $120,000.
The bank’s latest forecast outlines a bullish path for Bitcoin, projecting a base-case target of $128,000 and an optimistic scenario reaching $155,000 by the end of 2025. Even its downside view, landing at $55,000, reflects the volatile nature of the asset.
Strategy’s conviction hasn’t wavered. In its latest move, the company added another 4,225 BTC for $472.5 million, pushing total holdings to over 601,000 BTC, acquired at an average price of $111,827. TD Cowen sees the company’s shift from balance-sheet preservation to value generation through Bitcoin as a transformative evolution.
The firm’s “42/42 plan” aims to raise $84 billion through debt and equity to fund future acquisitions of up to 900,000 BTC by 2027—a goal that, if achieved, would make Strategy one of the largest single holders of Bitcoin in the world.
Cowen’s note underscores that this approach could unlock immense value for shareholders if Bitcoin reaches its expected milestones.
Kosta Gushterov
Reporter at Coindoo
Kosta joined the team in 2021 and quickly established himself with his thirst for knowledge, incredible dedication, and analytical thinking. He not only covers a wide range of current topics, but also writes excellent reviews, PR articles, and educational materials. His articles are also quoted by other news agencies.
Source: https://coindoo.com/bitcoin-price-prediction-by-end-of-2025-from-td-cowen/