BlockBeats news, December 23, according to The Block, Bitcoin treasury company Strategy announced on Monday that it has raised approximately $748 million through the sale of common stock, increasing its dollar cash reserves to $2.19 billion. TD Securities, a division of investment bank TD Cowen, noted 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 strength of the company’s balance sheet, which should alleviate market concerns about its ongoing viability even in a prolonged ‘crypto winter’ scenario. We believe that enhancing liquidity during stressful times is always a wise decision, and all stakeholders of Strategy will benefit significantly from these actions.”
TD Securities reiterated its ‘Buy’ rating on Strategy and maintained its 12-month target price of $500. Strategy’s current stock price is around $165, with a year-to-date decline of over 43%.
