Strategy Target Cut to $260 as TD Cowen Lowers Bitcoin Outlook

CryptoProwl

Tue, June 30, 2026 astatine 11:27 AM CDT 2 min read

Strategy Inc. (NASDAQ: $MSTR) is getting a ballot of assurance from TD Cowen, but with a overmuch little terms people attached to a weaker Bitcoin (CRYPTO: $BTC) outlook.

The steadfast chopped its Strategy people to $260 from $400 portion keeping a Buy standing connected the stock. The simplification was tied chiefly to TD Cowen's little Bitcoin forecast, not Strategy's caller Digital Credit Capital Framework.

TD Cowen present expects Bitcoin to extremity 2026 adjacent $100,000, down from its anterior estimation of astir $140,000. Its 2027 forecast besides moved lower, to astir $135,000 from $190,000. The displacement drove astir of the people reduction, portion the analysts near their assumptions for Strategy's aboriginal Bitcoin purchases unchanged and kept the net aggregate astatine 3x.

More From Cryptoprowl:

• Ripple, The Company Behind XRP, Is Valued At $50 Billion

• Eightco Secures $125 Million Investment From Bitmine And ARK Invest, Shares Surge

• Blockchain Projects Decline 75% As Developers Shift To A.I.

• Stanley Druckenmiller Says Stablecoins Could Reshape Global Finance

• New York Stock Exchange Invests $600 Million In Polymarket

The little people inactive implies a ample rebound from Monday's $92.68 closing price, a spread TD Cowen acknowledged could look "out of context." That leaves the telephone balanced betwixt a much cautious Bitcoin way and continued content that Strategy tin negociate its superior operation done the downturn.

Strategy is besides giving investors much item connected however it plans to negociate liquidity done the downturn. Its caller model includes a board-approved U.S. dollar reserve policy, a revised STRC (NASDAQ: $STRC) dividend approach, preferred-share and common-stock repurchase authorizations, and a ceremonial Bitcoin monetization program.

Strategy said its U.S. dollar reserve stood astatine astir $2.55 cardinal arsenic of June 28, capable to screen astir 17.4 months of expected preferred dividends and involvement expense. The institution besides raised the STRC dividend complaint to 12% and authorized up to $1 cardinal each for integer recognition securities repurchases and MSTR communal banal buybacks.

TD Cowen called the model constructive due to the fact that it gives investors clearer rules astir liquidity, dividends, repurchases and imaginable Bitcoin sales. The harder question is whether that flexibility tin rebuild assurance without weakening the Bitcoin accumulation communicative that made Strategy the market's flagship treasury stock.

Strategy Inc. (NASDAQ: MSTR) is trading astatine $85.91 U.S. per share. Bitcoin (CRYPTO: BTC) is presently trading astatine $58,260 U.S. per integer token.