TD Cowen: "MicroStrategy can acquire up to 17,000 additional Bitcoin (BTC) without equity dilution"
Summary
- The American investment bank TD Cowen reported that MicroStrategy (MSTR) raised a net total of $2.47 billion through the issuance of variable-rate preferred shares.
- It stated that if these funds are used for additional Bitcoin (BTC) purchases, up to 20,500 BTC could be secured.
- TD Cowen projected that MicroStrategy could acquire approximately 17,000 BTC additionally without equity dilution.
According to cryptocurrency-focused media outlet The Block on the 28th (local time), the American investment bank TD Cowen analyzed that the public company MicroStrategy (MSTR) raised a net total of $2.47 billion through the recent issuance of 28 million variable-rate preferred shares.
TD Cowen projected that if all of these funds were used for additional Bitcoin (BTC) purchases, MicroStrategy could acquire up to 20,500 BTC, assuming an average BTC price of $120,000.
They further explained, "MicroStrategy is targeting a cautious investor base through various BTC-based security products, which is serving as a major channel for institutional capital inflows into BTC."
TD Cowen also predicted, "Even if some common stock is issued to secure dividend resources for the next ten years, considering the current capital structure, up to around 17,000 BTC could still be purchased without equity dilution."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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