TD Cowen raised Strategy's price target to 680 from 590, predicting Bitcoin could reach 155,000 by December. Strategy, the largest corporate Bitcoin holder, owns 601,550 BTC after a recent 472.5M purchase. The bank’s base case for Bitcoin is 128,000, with a downside of 55,000. Strategy aims to raise 84B for more Bitcoin, potentially holding 900,000 BTC by 2027. TD Cowen recommends Strategy’s preferred shares for income and lower volatility.