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Investment bank TD Cowen released its latest research report, predicting that Bitcoin will rise to approximately $140k by the end of 2026 and continue to be viewed as a long-term store of value asset, positioning it as "digital gold." The firm this week launched its first formal stock research coverage on Bitcoin reserve concept stocks (PBTC), defining them as an independent and "investable stock category," distinct from spot Bitcoin ETFs and traditional tech stocks. Additionally, the target price for Strategy was lowered from $440 to $350, but the buy rating was maintained. (Bitcoin Magazine)