TD Cowen keeps $260 Strategy target, warns dilution limits MSTR upside
- —MSTR target held at $260, implying roughly 73% upside from $150
- —Strategy shares fell 2.5% to $150, down nearly 5% year to date
- —Strategy holds 848,000 BTC with about $4.5 billion in unrealized profits
- —TD Cowen sees bitcoin near $109,000 by end-2026 and $280,000 by 2029
Why it matters: Dilution from STRC, STRF and STRD preferred shares reduces bitcoin exposure per MSTR share, a key metric for investors in crypto treasury companies.
Source: The Block — Markets