Strategy’s Price Target Cut to $350 as 766,970 BTC Holdings Face Risk
TD Cowen cut Strategy’s price target to $350 from $440 and retained a Buy rating, reflecting lowered Bitcoin price forecasts. The firm holds 766,970 Bitcoin at a $58 billion cost basis, representing roughly 3.8% of circulating supply and exposing significant risk if BTC drops below $65,900.
1. TD Cowen Cuts Price Target
TD Cowen lowered Strategy’s price target to $350 from $440 while maintaining a Buy rating, citing diminished Bitcoin price outlooks and a reduced multiple on the company’s projected BTC gains.
2. Bitcoin Holdings and Supply Concentration
Strategy currently holds 766,970 Bitcoin acquired at a total cost of $58 billion, accounting for about 3.8% of total circulating BTC and underscoring its significant market exposure.
3. Critical Price Thresholds
A sustained drop below $65,900 could prompt further Bitcoin sales by the firm, with recent spot ETF inflows of $1.32 billion in March and miners offloading 15,000 BTC highlighting volatile demand shifts.
4. Management Views on Quantum Risks
Michael Saylor characterized quantum computing threats to cryptocurrencies as theoretical and years away, and indicated that Bitcoin likely bottomed near $60,000 earlier this year, positioning future bull runs on expanded banking and digital credit frameworks.