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      TD Cowen Raises Bitcoin Price Target to $280,000 by 2029

      TD Cowen has increased its long-term forecast for Bitcoin, setting a price target of $280,000 for 2029. On October 8, 2026, the brokerage revised its year-end 2026 projection to approximately $109,000, a significant increase from its previous estimate of $97,500 made in September. This adjustment follows Bitcoin's strong performance in the third quarter of 2026, where it closed around $76,000, surpassing earlier expectations.

      Analyst Lance Vitanza attributes the optimistic outlook to anticipated annual gains of 20% to 30% for Bitcoin. The firm also maintained its price target for Strategy (MSTR) at $260, indicating a stable outlook despite the improved Bitcoin forecast. TD Cowen highlighted the growing trend of institutional investment in Bitcoin treasury companies, which are expected to outperform direct Bitcoin holdings by 50% due to evolving capital market strategies.

      However, the firm cautioned that the issuance of new shares by treasury companies could dilute existing shareholder value, potentially offsetting some benefits from rising Bitcoin prices. The unchanged target for Strategy suggests that TD Cowen believes these factors may balance each other out for the time being. Investors are advised to monitor Bitcoin's performance in the fourth quarter as it approaches the year-end target, alongside the pace of share issuance by Strategy.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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