TD Cowen cut its price target for MicroStrategy (MSTR) to $260 from $400 after lowering its year-end 2026 Bitcoin forecast to $100,000. On July 4, investor Tim Draper denied links to a wallet that transferred 1,000 BTC to Coinbase Prime and reiterated his bullish prediction for Bitcoin to reach a price of $250,000. On July 6, MicroStrategy lost approximately 17% of its Bitcoin sale capacity due to its new cryptocurrency accumulation playbook.
In a stunning reversal that could redefine institutional crypto investment, MicroStrategy has pivoted away from its long-standing accumulation strategy.
Read the full storyThe venture capitalist denied links to a 1,000 BTC transfer to Coinbase, maintaining his long-term conviction in Bitcoin's massive upside potential.
TD Cowen lowered its price target for Strategy (MSTR) from $400 to $260 after cutting its year-end 2026 Bitcoin forecast to $100,000, according to a report by Benzinga.