TD Cowen maintains its fundamental expectation that the price of Bitcoin will exceed $140,000 by the end of the year

According to The Block, TD Cowen reiterated its overall outlook for Bitcoin by the end of the year, maintaining a base expectation of a Bitcoin price of $141,277, while also presenting more extreme bullish scenarios ($160,000) and bearish scenarios ($60,000).

Additionally, TD Cowen expects that after Strategy Company issues its first euro-denominated preferred stock STRE (valued at €620 million, approximately $715 million), the company will be able to add 6,720 Bitcoins to its Bitcoin treasury.

TD Cowen also gave a buy rating and target price for the newly issued euro-denominated STRE stock and STRC stock from Strategy, while reaffirming its buy ratings for Strategy's existing STRF, STRK, and STRD categories.