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Strategy Inc (NASDAQ:<\/a>MSTR<\/a>) shares surged 22% Friday as TD Cowen maintained its $440 price target, arguing there is \u201cno reasonable scenario\u201d forcing the company to sell Bitcoin (CRYPTO: <\/a>BTC<\/a>) despite trading underwater on its holdings.<\/p>\n TD Cowen analysts Lance Vitanza and Jonnathan Navarrete said Strategy is \u201cbetter positioned than ever\u201d to participate<\/a> in a potential recovery, even as the premise looks strained amid steep declines. The company\u2019s shares are down 13.4% so far in 2026, adding to a 47.5% slump last year.<\/p>\n The volatility looks intentional \u2015 analysts noted Strategy\u2019s common stock is designed to be about 1.5 times more volatile than Bitcoin.<\/p>\n \u201cIt should come as no surprise that Strategy\u2019s shares outperform Bitcoin when the price rises, and underperform when falling. This is, in fact, by design,\u201d they said.<\/p>\n Don’t Miss:<\/p>\n On solvency concerns, TD Cowen argued Strategy has the \u201cwherewithal to ride out a hypothetically much steeper Bitcoin rout.\u201d<\/p>\n They pointed to the company\u2019s $2.25 billion cash reserve that could fund $900 million in fixed charges for nearly 17 months while covering $1 billion of convertible notes putable in 2027.<\/p>\n The earliest trouble point appears in March 2028, when additional convertibles mature or become putable.<\/p>\n Moreover, TD Cowen maintained Bitcoin price targets at $177,000 by December 2026 and $226,000 by December 2027.<\/p>\n TD Cowen\u2019s view aligns with recent Strategy executive comments.<\/p>\n On the Q4 earnings call revealing $126 billion in losses, CEO Phong Le said Bitcoin would need to fall to around $8,000 and remain there for five to six years before Strategy faces difficulty servicing convertible debt.<\/p>\n Executive Chairman Michael Saylor reiterated the capital structure is designed to withstand extended volatility, dismissing quantum computing threats as \u201chorrible FUD.\u201d<\/p>\n Trending:\u00a0Earn While You Scroll: The Deloitte-Ranked #1 Software Company Growing 32,481% Is Opening Its $0.50\/Share Round to Accredited Investors.<\/a><\/p>\n TD Cowen highlighted Strategy\u2019s emerging \u201cdigital credit engine\u201d as a key thesis component.<\/p>\n The company raised over $7 billion of preferred equity in fiscal 2025, representing 33% of all preferred equity sold in the U.S.<\/p>\n The firm\u2019s STRC preferred stock pays an 11.25% annualized dividend rate with daily liquidity above $118 million, providing an alternative funding mechanism beyond convertible debt.<\/p>\n See Also:\u00a0This ETF issuer isn’t chasing the index \u2014 it’s building tools for income, leverage, and conviction<\/a><\/p>\n Strategy\u2019s shares are up 22% Friday, bouncing after testing the critical $100-$110 support.<\/p>\n However, the stock remains trapped in a descending channel with overhead resistance.<\/p>\n The SAR indicator at $155.29 positions above current prices, indicating the bearish trend remains intact. Immediate resistance sits at $155, followed by $165-$175, then $200+.<\/p>\n Additionally, the RSI at 36.45 shows bouncing from oversold but remains below 50, confirming momentum stays bearish.<\/p>\n Support sits at $100-$110\u2014if this fails, next support appears at $75-$85.<\/p>\n Image source: Shutterstock<\/p>\n Read Next:\u00a0Put professional stock research to work in a single ETF \u2014 explore Motley Fool Asset Management’s factor-based funds.<\/a><\/p>\n Building a resilient portfolio means thinking beyond a single asset or market trend. Economic cycles shift, sectors rise and fall, and no one investment performs well in every environment. That’s why many investors look to diversify with platforms that provide access to real estate, fixed-income opportunities, professional financial guidance, precious metals, and even self-directed retirement accounts. By spreading exposure across multiple asset classes, it becomes easier to manage risk, capture steady returns, and create long-term wealth that isn’t tied to the fortunes of just one company or industry.<\/p>\n Rad AI’s award-winning artificial intelligence technology helps transform data chaos into actionable insights, enabling the creation of high-performing content with measurable ROI. Their Regulation A+ offering allows investors to participate at $0.85 per share with a minimum investment of $1,000, providing an opportunity to diversify portfolios into early-stage AI innovation.<\/a> For investors seeking exposure to the rapidly growing AI and tech sector, Rad AI offers a chance to get in on the ground floor of a data-driven growth story.<\/p>\n Backed by Jeff Bezos, Arrived Homes makes real estate investing accessible with a low barrier to entry. Investors can buy fractional shares of single-family rentals and vacation homes starting with as little as $100<\/a>. This allows everyday investors to diversify into real estate, collect rental income, and build long-term wealth without needing to manage properties directly.<\/p>\n Lightstone DIRECT gives accredited investors direct access to institutional-grade real estate, going beyond typical crowdfunding platforms. By cutting out middlemen, it aligns investor and manager interests while providing exposure to a $12B+ portfolio spanning multifamily, industrial, hospitality, retail, office, and life science properties. This approach allows investors to diversify their portfolios across multiple property types and markets<\/a>, gaining professional-grade real estate exposure without the fees or misalignment common on other platforms.<\/p>\n Domain Money helps professionals and households earning $100,000+ take control of their finances with personalized, CFP professional-led guidance<\/a>. By offering tailored financial planning, Domain empowers users to make smarter, more confident decisions across investments, retirement, taxes, and overall wealth strategy.<\/p>\n Masterworks enables investors to diversify into blue-chip art, an alternative asset class with historically low correlation to stocks and bonds.<\/a> Through fractional ownership of museum-quality works by artists like Banksy, Basquiat, and Picasso, investors gain access without the high costs or complexities of owning art outright. With hundreds of offerings and strong historical exits on select works, Masterworks adds a scarce, globally traded asset to portfolios seeking long-term diversification.<\/p>\n BAM Capital offers accredited investors a way to diversify beyond public markets through institutional-grade multifamily real estate<\/a>. With over $1.85 billion in completed transactions and guidance from Senior Economic Advisor Tony Landa, the firm targets income and long-term growth as supply tightens and renter demand remains strong\u2014especially in Midwest markets. Its income-focused and growth-oriented funds provide exposure to real assets designed to be less tied to stock market volatility.<\/p>\n As digital assets become a larger part of diversified portfolios, traders increasingly look for platforms that offer transparency, efficiency, and control. Kraken Pro is an advanced trading interface from Kraken<\/a>, one of the world’s leading cryptocurrency exchanges, designed for users who want more sophisticated tools without added complexity. With low, volume-based fees, a streamlined interface for managing spot, margin, and futures trading, and a strong focus on security and regulatory compliance, Kraken Pro provides a way to gain diversified crypto exposure through a clear, professional-grade trading experience.<\/p>\n REX Shares designs specialized ETFs for investors who want more precision than traditional broad-market funds can offer.<\/a> Its lineup spans options-based income strategies, leveraged and inverse exposures, spot-linked crypto ETFs, and thematic funds tied to structural trends. By targeting specific income objectives, volatility profiles, or market themes, these ETFs can be used alongside core holdings to introduce differentiated return drivers and reduce reliance on a single market outcome, while maintaining the liquidity and transparency of the ETF structure.<\/p>\n Mode Mobile is redefining how people earn money through everyday smartphone use. Its EarnPhone and app ecosystem allow users to earn and save by playing games, listening to music, and reading news\u2014turning screen time into income. With over 50 million beta users and a low $99 barrier to adoption, Mode Mobile has proven extreme competitiveness in the mobile market. Accredited investors can participate in the company’s growth at $0.50 per share, gaining exposure to a platform with a total addressable market exceeding $1 trillion and plans for a Nasdaq IPO. <\/a>For investors looking to diversify into innovative consumer tech and mobile monetization, Mode Mobile offers a unique opportunity to tap into a fast-growing, user-driven digital economy.<\/p>\n UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily<\/a>, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets.<\/p>\n Get the latest stock analysis from Benzinga:<\/p>\n This article ‘No Reasonable Scenario’ Forces Strategy To Sell Bitcoin As $440 Target Stands: TD Cowen<\/a> originally appeared on Benzinga.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Strategy Inc (NASDAQ:MSTR) shares surged 22% Friday as TD Cowen maintained its $440 price target, arguing there is…\n","protected":false},"author":2,"featured_media":281361,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[34747,32556,114,144626,144625,85,46,1141,9508,140451],"class_list":["post-281360","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-accredited-investors","tag-bitcoin-price","tag-business","tag-common-stock","tag-cowen","tag-il","tag-israel","tag-strategy","tag-strategy-inc","tag-trading-platforms"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/281360","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=281360"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/281360\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/281361"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=281360"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=281360"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=281360"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}} <\/p>\n