ChainCatcher reports that, according to The Block, investment bank TD Cowen has lowered the one-year target price for Bitcoin reserve company Strategy( from $500 to $440. The reason for the downgrade is the ongoing issuance of equity and preferred shares, which has led to a decline in Bitcoin yields.
Analysts expect Strategy to acquire approximately 155,000 BTC in fiscal year 2026, a significant increase from the previous estimate of 90,000 BTC. However, these acquisitions will mainly be financed through common and preferred shares, diluting Bitcoin yields.
Despite the target price reduction, analysts remain optimistic about Strategy’s value as a Bitcoin investment vehicle and forecast Bitcoin prices to reach approximately $177,000 by December 2026 and approximately $226,000 by December 2027.
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