TD Cowen, Binabaan ang Target ng Strategy sa ₱20,913 ($350); Sinusuportahan ang Ethereum

Binabaan nang malaki ni Lance Vitanza, isang analyst sa TD Cowen, ang price target para sa Strategy mula $440 patungong $350. Binanggit niya ang mas mababang ekspektasyon para sa mga susunod na presyo ng Bitcoin at ang bawas na multiple sa inaasahang kita ng kumpanya mula sa Bitcoin. Ang stock ng Strategy ay nakikipagkalakalan malapit sa $129, na mas mababa sa naunang target ng TD na $550 na itinakda nitong simula ng taon.

Hawak ng Strategy, dating MicroStrategy, ang mahigit ₱3.29 trillion ($55 billion) sa Bitcoin at naging largest corporate holder ng cryptocurrency. Dahil sa heavy Bitcoin concentration ng Tysons Corner-based firm, nag-spark ng debate ang inclusion nito sa major indices, with MSCI actively reviewing kung ikeep pa ba ang Strategy sa benchmarks nito.

Nag-initiate ang TD ng coverage sa Sharplink na may buy rating at $16 price target. Nag-close ang stock after-hours sa $6.42, down 62% over the past six months. Systematically bumibili ng Ethereum ang Sharplink at ina-stake ito para mag-generate ng yield, positioning itself as Ethereum equivalent ng Bitcoin treasury model ng Strategy. Nag-report ang Sharplink ng staking revenue na ₱914.19 million ($15.3 million) last month, up 50% from ₱615.44 million ($10.3 million) the prior quarter, generating 14,500 ETH through staking worth ₱561.66 million ($9.4 million).

Sabi ng TD analysts, nag-offer si Sharplink ng superior staking yield compared sa Ethereum ETFs based on fee structures at liquidity constraints, at ang staking revenue dapat fully cover ang operating costs kahit depressed pa ang Ethereum prices. Si Consensys CEO at Ethereum co-founder na si Joe Lubin ang chairman ng Sharplink at sinabi na serve ang firm as bridge between traditional public markets at Ethereum, na nag-post ng ₱43.86 billion ($734 million) full-year loss driven by decline sa value ng Ethereum holdings nito during the second half of 2025.

ℹ️ Article Details

• Source: Decrypt
• Original URL: https://decrypt.co/363902/td-cuts-bitcoin-giant-strategy-price-target-ethereum-treasury-sharplink-buy
• Reading Time: 3 minutes
• Category: market-analysis
• Tickers: BTC, ETH
• Key Takeaway: Wall Street now sees more upside in Ethereum staking plays than Bitcoin treasury firms.
• Slug: td-cowen-cuts-strategy-target-backs-ethereum

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