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TD Cowen Analyst Sees Bitcoin at $132,000 by 2027, Updates MSTR Outlook

TD Cowen's Lance Vitanza predicts Bitcoin reaching $132,000 by 2027 and discusses MicroStrategy's price outlook.

05/10/2026 21:165 min read

Bitcoin Magazine presents an analysis from TD Cowen Managing Director Lance Vitanza, who projects Bitcoin reaching $132,000 by 2027 and offers a price outlook for MicroStrategy.

Institutional investors have moved past the debate on whether to hold Bitcoin and are now focused on the method of ownership. TD Cowen's Lance Vitanza discusses Bitcoin's transition from a single asset to a capital markets ecosystem that includes common stock, preferreds, bonds, and income-generating instruments. He also reports on insights from the Bitcoin Treasuries conference in New York, noting that institutions are increasingly assessing Bitcoin as part of a portfolio.

Disclaimer: The viewpoints and opinions featured in this presentation belong solely to the participants and may not represent the official stance of BTC Inc., Bitcoin Magazine, or any related organizations. This material is intended for informational and educational use only and is not to be interpreted as investment, legal, tax, or accounting guidance. No part of this content should be seen as a solicitation, recommendation, endorsement, or offer to purchase or sell any securities or financial products. Individuals are advised to seek advice from their own professional advisors before making financial or business decisions.

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Disclaimer: this article comes from third-party media and is provided for reference only. It does not constitute investment advice. Crypto and other financial products carry significant price volatility risk, so please make your own decisions carefully.

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