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Investment institutions are optimistic about the Strategy equity Bitcoin circulation mechanism and maintain a buy rating.
According to Gate News bot, TheBlock reported that investment firm TD Cowen stated that the equity Bitcoin cycle mechanism of Strategy provides a reasonable basis for its net asset value premium. Despite the risks, TD Cowen still maintains a buy rating on Strategy.
In the second quarter, Strategy purchased 69,140 Bitcoins, bringing its total holdings to 597,325 coins, exceeding TD Cowen’s expectations. Currently, the premium of Strategy’s stock relative to net asset value is about 63%. TD Cowen maintains a target price of $590 per share, viewing Strategy as the highest quality listed Bitcoin spot investment proxy. It is expected that by 2027, Strategy’s Bitcoin holdings will reach 850,000 coins, accounting for 4.1% of the total supply.