Michael Saylor’s strategy continues to direct the Bitcoin de corporate race, now holding the title of the biggest Bitcoin holder on the world. Despite the current debate, its actions are negotiated with a significant bonus compared to its Bitcoin (NAV) asset value, and analysts say that it is justified.
TD Cowen supports the premium
In a recent interview with The Block, analysts from the World Investment Bank TD Cowen, launches Vitanza and Jonnathan Navarrete, argued that the premium of the strategy is rational. They rejected the criticisms that argue that the title should directly follow his Bitcoin navigation, calling such views of “logically imperfect”.
From now on:
- Market capitalization: 124.3 billion dollars
- Bitcoin Holdings: $ 72 billion
- Premium nav: 72.6%
Rather than being overvalued, TD Cowen thinks that the ability of the strategy to access low cost capital distinguishes it.
Demystify the theory of “greatest idiot”
The premium for the skeptical strategy says that the strategy is motivated by a speculative bubble – a conviction that someone else will buy at a higher price. However, TD Cowen analysts argue that the financial engineering of the strategy, in particular its plan “42/42”, creates an intrinsic value.
The 42/42 plan aims to increase $ 84 billion in equity and debt by 2027. With a borrowed rate mixed only 0.421%, the strategy can:
- Increase bitcoin by action without dilution
- Create a bitcoin “yield” effect that ETFs and retail investors cannot reproduce
Capital steering wheel effect: a unique advantage
The steering wheel approach of the strategy feeds the continuous accumulation of Bitcoin. Recently:
- Raised $ 739.8 million via an offer of $ 21 billion
- Bought 6,220 BTC has $ 118,940 by room
- Added 3,077 BTC in profit – without issuing new actions
Since January 1, the share of Bitcoin by MSTR has increased 20.8%Double compared to 18 months ago. This efficiency amplifies yields beyond typical navigation navigation models.
The recent launch of “Stretch” (STRC) Supports further the effectiveness of the capital of the strategy, offering more tools to extend its Bitcoin holders without dilution.
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Perspectives: 900,000 BTC by 2027?
With 607,770 BTC already to its credit, the strategy remains the largest public Bitcoin holder. TD Cowen predicts:
- 900,000 BTC holdings possible by 2027
- Equivalent to 4.3% of all Bitcoin food
They also maintain a price target of $ 680 on MSTR, citing:
Michael Saylor’s strategy is not only the stack of Bitcoin – this reshaped the way companies invest. Supported by low -cost capital, a long -term vision and a capital steering wheel, TD Cowen thinks that this NAV premium is not only sustainable, but a plan for the domination of corporate bitcoin.
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Faq
It is the plan of the strategy to increase $ 84 billion thanks to actions and debt by 2027, which allows it to increase Bitcoin by action without diluting the value of shareholders.
From now on, the strategy contains approximately 607,770 BTCWhich makes it the largest public Bitcoin holder in the world.
TD Cowen projects that the company could reach 900,000 BTC By 2027, around 4.3% of all existing bitcoins.
It is a new privileged actions that helps collect funds without diluting MSTR shareholders, feeding more BTC acquisitions.
