Investment Bank TD Cowen: Strategy's cash reserves increased to $2.19 billion to enhance its ability to operate continuously during a 'prolonged crypto winter'

BlockBeats News, on December 23, reported by The Block, that the Bitcoin treasury company Strategy stated on Monday that it raised approximately $748 million through the sale of common stock, increasing its cash reserves to $2.19 billion. Investment bank TD Cowen's TD Securities pointed out that the expanded cash reserves are sufficient to cover the company's interest and dividend expenses for about 32 months, helping Strategy maintain robust operations in a more challenging market environment.

TD Securities analyst Lance Vitanza stated: "This move highlights the robustness of the company's balance sheet, which should alleviate market concerns about its ongoing viability even in the scenario of a prolonged 'crypto winter.' We believe that enhancing liquidity during times of stress is always a wise move, and all stakeholders of Strategy will benefit significantly from these actions."

TD Securities reiterates its "Buy" rating on Strategy and maintains its target price of $500 for the next 12 months. Strategy's current stock price is approximately $165, having declined over 43% year to date.