TD Cowen: Bitcoin to Hit $132,750 by 2028, Strategy, Strive Could Outperform

Bitcoin’s (CRYPTO: BTC) 8% gain over the past month has an industry expert eyeing $132,750 by the end of 2027, while predicting well-run Bitcoin treasury companies could deliver even stronger returns.

TD Cowen Managing Director and digital assets analyst Lance Vitanza predicts Bitcoin to hit $275,000 by the end of 2029.

However, the firm may need to reassess its longer-term targets after BTC finished Q3 significantly higher above the $76,235 closing price assumed in its forecast.

Qualitatively, Vitanza expects Bitcoin to appreciate at a high-20% to roughly 30% annual rate over the longer term.

He argued that institutional conversations around Bitcoin have also evolved from whether institutions should participate to how they should gain exposure.

Rather than evaluating Bitcoin’s volatility in isolation, institutional investors are increasingly considering whether adding the asset can improve the risk-return profile of a broader portfolio.

Why Treasury Companies Could Outperform BTC

In an interview with Bitcoin Magazine on Monday, Vitanza noted that as BTC treasury companies can consistently increase their holdings per share on accretive terms there could be an additional upside in Strategy (NASDAQ:MSTR), Strive (NASDAQ:ASST), Metaplanet (NASDAQ:MTPLF) and Nakamoto (NASDAQ:NAKA).