Shares of Strategy Inc (NASDAQ: MSTR) surged 22% as TD Cowen maintained its $440 price target, believing the company does not need to sell its Bitcoin holdings despite trading underwater. TD Cowen analysts noted Strategy’s intentional volatility, designed to be 1.5 times more volatile than Bitcoin. They highlighted the company’s $2.25 billion cash reserve and predicted Bitcoin price targets at $177,000 by December 2026 and $226,000 by December 2027. Strategy’s emerging “digital credit engine” and preferred equity offerings were also emphasized. The company’s shares are up 22% Friday, with support at $100-$110.

Read more at Yahoo Finance: ‘No Reasonable Scenario’ Forces Strategy To Sell Bitcoin As $440 Target Stands: TD Cowen