PANews reported on May 7th that, according to The Block , investment bank TD Cowen raised its price target for Strategy ( SMSTR ) from $ 385 to $ 395 , implying an upside of over 110% from its closing price of $ 186.82 . The report states that the company is shifting from issuing common stock to primarily raising funds to purchase Bitcoin through the issuance of SRC perpetual preferred stock with a yield of approximately 11.5% , with a current SRC face value exceeding $ 8.5 billion. TD Cowen projects that Strategy's BTC yield will increase from the previous estimate of 16.7% to 18.2% in fiscal year 2026 , and from 5.4% to 9.6% in fiscal year 2027. With approximately 818,000 BTC in holdings, the company's annual preferred stock dividend burden of approximately $ 1.5 billion represents about 2.2% of the BTC holding value. TD Cowen 's baseline scenario assumes Bitcoin will reach approximately $ 140,000 by the end of the year, while the upside scenario assumes $ 175,000 .