TD Cowen has reiterated its year-end price forecast for Bitcoin, projecting it to reach $141,277 by December 31, 2025. The firm also presented a bullish scenario with a potential peak of $160,000 and a bearish outlook of $60,000. In addition, TD Cowen anticipates Strategy will bolster its Bitcoin holdings by 6,720 BTC following the issuance of its first euro-denominated preferred stock, STRE, valued at €620 million ($715 million). The firm has issued a buy rating for the new STRE and STRC shares, while maintaining buy ratings for existing STRF, STRK, and STRD shares.