MicroStrategy dem buy BTC worth $472M, Cowen gree boost MSTR reach $680
MicroStrategy raise $472.3 million through common and preferred share issues to buy 4,225 Bitcoin for average price of $111,827, make dem hold total 601,550 BTC for cost basis of $71,268. The 8% convertible (STRK) and 10% (STRF, STRD) preferred shares price dey about 20% premium for around $124, $125, and $95, dem dey give quarterly dividends plus $100 downside protection. TD Cowen upgrade MSTR from $590 to $680, predict say Bitcoin fit reach $155,000 by year end (base case $128,000; conservative $55,000). Cowen noch highlight MicroStrategy “42/42 Plan” wey dem wan raise $84 billion through equity and bonds to grow reserve to 900,000 BTC by 2027. The firm rate all three preferred classes as “buy” with targets $140 (STRK), $126 (STRF), and $112 (STRD), say dem get good yields and less volatility than common stock or direct Bitcoin exposure. Traders fit see all these moves as bullish for MSTR and Bitcoin markets.
Bullish
MicroStrategy big share issuance to fund more 4,225 BTC buy plus Cowen upgrade MSTR price target show say institutional demand strong and dem get confidence for Bitcoin. The preferred shares premium pricing wey get downside protection and fine dividends dey attract yield-focused traders, e dey reduce volatility compared to direct Bitcoin exposure. Cowen bullish BTC forecast of $155,000 and the big 42/42 Plan to make reserves reach 900,000 BTC by 2027 still dey back long-term positive vibes. All these things together dey support short-term upward momentum for MSTR stock and Bitcoin, and long-term market confidence too, e clear say na bullish sign.