TD Cowen Publishes Bullish Report on Bitcoin And MicroStrategy – Bitcoin Magazine

Investment banking company, TD Cowen, published a recent report on MicroStrategy and its adoption of Bitcoin, according to documents obtained by Bitcoin Magazine.

“MicroStrategy represents a new kind of firm, which generates dollar -based cash flow from enterprise software products and cloud intelligence services but then converts its excess cash flow – on an effectively -leveraged basis – into bitcoin,” the report said. “What started as a defensive strategy to protect the value of its assets has evolved rapidly into an opportunistic strategy intended to accelerate the creation of shareholder value…This hybrid corporate strategy represents a paradigm shift, in our view.”

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