TD Cowen raises Bitcoin target to $280,000 by 2029
- —End-2026 target raised to $109,000 from $97,500
- —2029 target of $280,000 assumes 20–30% annual gains
- —Strategy (MSTR) price target held at $260
- —Well-run Bitcoin treasury firms seen outperforming spot by 50%
Why it matters: The call gives institutions a benchmark for betting on Bitcoin treasury companies, though Strategy's share dilution remains a drag.
Source: Crypto Briefing