---
title: "Strategy's Bitcoin Acquisition Strategy: TD Cowen Raises Price Target to $400"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286909627.md"
description: "TD Cowen has raised its price target for Strategy to $400 while maintaining a Buy rating. The firm raised approximately $1.95 billion in Q2 through preferred stock issuance to purchase Bitcoin and repurchased $1.5 billion of convertible notes at an 8% discount. TD Cowen expects Strategy to acquire about 100,000 BTC in Q2 after spending roughly $2.01 billion on 24,869 BTC from May 11 to May 17."
datetime: "2026-05-19T12:01:45.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286909627.md)
  - [en](https://longbridge.com/en/news/286909627.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286909627.md)
---

# Strategy's Bitcoin Acquisition Strategy: TD Cowen Raises Price Target to $400

TD Cowen has increased its price target for Strategy to $400 while maintaining a Buy rating. According to NS3.AI, the firm raised approximately $1.95 billion in the second quarter through a preferred stock issuance, using the funds to purchase Bitcoin. Additionally, Strategy repurchased around $1.5 billion of convertible notes at an approximate 8% discount. TD Cowen anticipates that Strategy will acquire about 100,000 BTC in the second quarter, following the company's expenditure of roughly $2.01 billion on 24,869 BTC between May 11 and May 17.

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