TD Cowen Reduces Strategy Price Target, Citing Bitcoin Weakness
TD Cowen cuts its price target for Strategy by 35% due to ongoing weakness in Bitcoin, according to Decrypt. The new target is $260, down from $400, reflecting lower expectations for the digital asset, now seen potentially hitting $100,000 by the year's end.
TD Cowen has adjusted its price target for Strategy (MSTR) downward by 35%, citing persistent weaknesses in Bitcoin's performance. The investment bank recalibrated its expectations, lowering its price target from $400 to $260, after Bitcoin fell below $60,000, marking over a 20% decline in the past month. Currently, the leading digital asset is trading around $58,400, down more than 53% from its peak of over $126,000 set last October.
The report from analysts led by Lance Vitanza notes that Strategy's stock dropped 8.6% to $84.75 on Tuesday, continuing a trend of volatility. This decline follows a recovery after a nine-day losing streak. The situation changed after the company liquidated some Bitcoin for the first time since 2022. This decision has contributed to a significant loss in the company's stock value, which has plunged nearly 41% from a previous price of $142.69.
Interestingly, this downgrade comes despite Strategy's recent unveiling of a comprehensive capital management framework. Analysts noted that the Digital Credit Capital Framework is designed to enhance credit visibility and capital flexibility by detailing how the firm plans to manage its substantial cash reserves—now at $2.55 billion—and its large Bitcoin holdings, estimated at 847,363 Bitcoin.
Furthermore, the analysts indicated that the company’s USD Reserve has gained increased attention due to rising operational costs associated with Stretch (STRC). They argue that bolstering cash reserves should help stabilize investor confidence amid a prolonged downturn in Bitcoin markets. Analysts expressed hope that this strategic shift could effectively address investor concerns, with the belief that managing liquidity will play a crucial role in Strategy’s market resilience.
Summary based on original reporting by André Beganski at Decrypt, originally published Jun 30, 2026. SolanaWire does not republish source content.
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