MicroStrategy CEO May Sell Bitcoin After Three Quarterly Losses; TD Cowen Lifts Target to $395
MicroStrategy reported three consecutive quarterly net losses, prompting CEO Michael Saylor to reverse his pledge and consider selling bitcoin holdings for the first time. TD Cowen simultaneously lifted its MicroStrategy price target to $395, citing the company’s shift to structured funding vehicles for future bitcoin acquisitions.
1. CEO Considers Bitcoin Sales
MicroStrategy has now endured three straight quarterly net losses, leading CEO Michael Saylor to abandon his long-held vow never to sell bitcoin. He is evaluating partial liquidations of the company’s cryptocurrency stash to bolster liquidity and strengthen the balance sheet.
2. Analyst Raises Target on Funding Shift
TD Cowen increased its MicroStrategy price target to $395, highlighting the firm’s move toward structured funding vehicles for bitcoin purchases. The bank expects this funding strategy to improve capital efficiency and limit equity dilution risks going forward.