TD Cowen cuts David Bailey’s Nakamoto target 58% after bitcoin outlook reset
The Block·
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TD Cowen cuts David Bailey's Nakamoto target 58% after bitcoin outlook reset, citing pressure from BTC's decline on the company's capital structure. The firm's updated valuation reflects a more bearish outlook on the cryptocurrency market, which has negatively impacted Nakamoto's capital structure and led to a significant reduction in the target price for investors.
The firm updated its valuation for David Bailey-led Nakamoto, citing pressure from BTC's decline on the company's capital structure.