Investment bank TD Cowen: Strategy cash reserves increased to $2.19 billion to enhance its ability to operate continuously during the "long-term crypto winter".

On December 23, The Block reported that Bitcoin treasury company Strategy announced on Monday that it raised approximately $748 million through the sale of common stock, increasing its cash reserves to $2.19 billion. Investment bank TD Cowen's TD Securities noted that the expanded cash reserves are sufficient to cover the company's interest and dividend expenses for about 32 months, helping Strategy maintain robust operations in a more challenging market environment. TD Securities analyst Lance Vitanza stated, “This move highlights the strength of the company's balance sheet, which should alleviate market concerns about its continued viability even in a long-term 'crypto winter' scenario. We believe that enhancing liquidity during times of stress is always a wise decision, and all stakeholders of Strategy will significantly benefit from these actions.” TD Securities reaffirmed its “buy” rating on Strategy and maintained its 12-month price target of $500. Strategy's current stock price is approximately $165, with a year-to-date decline of over 43%.