Bitcoin reserve provider Strategy (MSTR) announced on Monday that it raised approximately $748 million through a common stock offering, bringing its dollar cash reserves to $2.19 billion. Investment bank TD Cowen (TD Securities) noted that this move significantly enhances the company's liquidity and financial flexibility, enabling it to continue operating during a "long-term crypto winter." TD Securities analysts stated in a report that the new cash reserves are sufficient to cover Strategy's interest and dividend payments for approximately 32 months. The firm reiterated its "buy" rating on Strategy and maintained its 12-month price target of $500. As of this writing, Strategy's stock price is around $165, down more than 43% year-to-date. Analysts point out that considering Strategy's embedded leverage on Bitcoin prices and the high volatility of Bitcoin prices and premiums, its price target remains reasonable over a one-year period.