TechFlow news, November 25 — According to The Block, TD Cowen research shows that Strategy's bitcoin premium continues to decline, reverting toward the lows seen during the 2021–2022 "crypto winter."
Lance Vitanza, Managing Director at TD Cowen, said Strategy did not issue shares or purchase new bitcoin yesterday through its at-the-market (ATM) program. Two charts of Strategy's bitcoin premium released by the company indicate the metric is steadily compressing back to levels seen at the end of 2021 and beginning of 2022. Despite the ongoing decline in premium, TD Cowen maintains its "buy" rating and $535 price target, representing an upside of approximately 200% from the current share price of around $180.
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