TD Cowen Maintains Bullish Stance on Strategy (MSTR) Amid Resilient and Continued Adoption of Bitcoin Globally

With significant hedge fund interest, Strategy Inc. (NASDAQ:MSTR) secures a spot on our list of the 12 most promising blockchain and crypto mining stocks according to hedge funds.

TD Cowen Maintains Bullish Stance on Strategy (MSTR) Amid Resilient and Continued Adoption of Bitcoin Globally

On October 20, 2025, TD Cowen reiterated its “Buy” rating on Strategy Inc (NASDAQ:MSTR) with a $620 price target.

The investment firm’s bullish stance is attributed to the resilience and continued adoption of Bitcoin globally amid recent market volatility. Even though significant fluctuations in Bitcoin prices have been noted recently, ongoing global adoption remains unaffected, particularly evidenced by developments in countries like Japan and the UK. For Strategy Inc (NASDAQ:MSTR), this is critical, especially because of its acquisition of Bitcoin at a faster rate than issuing equity, which has resulted in an increase in Bitcoin per diluted share, a positive indicator for investors.

TD Cowen also highlighted the resilience of Bitcoin and Ethereum during a massive liquidation event, reflecting the digital asset ecosystem’s robustness. Moreover, with Bitcoin nearing its all-time high, investors see strong long-term potential. Meanwhile, the potential relaxation of Japan’s ban on banks investing in digital assets reflects regulatory advancements in the market, supporting the positive outlook for Bitcoin and, by extension, Strategy Inc (NASDAQ:MSTR)’s stock.

Strategy Inc (NASDAQ:MSTR), a Bitcoin treasury and software intelligence company across the U.S. and the rest of the world, offers investors exposure to Bitcoin through equity and fixed-income instruments.

While we acknowledge the potential of MSTR to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MSTR and that has 100x upside potential, check out our report about this cheapest AI stock.

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