TD Cowen has raised its forecasts for Bitcoin price, predicting significant growth by the end of 2025. Both optimistic and pessimistic scenarios are expected.
New Bitcoin Forecast
TD Cowen has updated its price target for Bitcoin, raising it from $590 to $680 as the cryptocurrency hits a new all-time high above $120,000.
The bank projects a base-case level of $128,000 and an optimistic scenario reaching $155,000 by the end of 2025. Even in a downside view, the expected lower boundary is $55,000, reflecting the volatile nature of the asset.
TD Cowen's Investment Strategy
The firm's strategy remains unchanged. Recently, TD Cowen purchased an additional 4,225 BTC for $472.5 million, pushing total holdings to over 601,000 BTC acquired at an average price of $111,827. The bank notes that the shift from balance sheet preservation to value generation through Bitcoin is a transformative evolution.
Future of Bitcoin and Its Impact on Shareholders
The company’s "42/42 plan" aims to raise $84 billion through debt and equity to fund future acquisitions of up to 900,000 BTC by 2027. If achieved, this goal would make TD Cowen one of the largest single holders of Bitcoin in the world.
The note from Cowen underscores that this approach could unlock immense value for shareholders if Bitcoin reaches its expected milestones.
TD Cowen's forecasts reflect optimism for Bitcoin's prospects, emphasizing the significance of adopting a transformative strategy for investments and shareholders.
