Crypto Currents: Strategy, Galaxy Digital report Q4 earnings results

Following earnings, BTIG lowered the firm’s price target on Strategy to $250 from $630 and kept a Buy rating on the shares. The company’s Q4 earnings call was overshadowed by bitcoin prices that traded off 8% in the hours leading up to the call, the analyst said. BTIG reminds investors that Strategy’s convertible debt is “extremely over-collateralized” and is covered even if bitcoin prices drew down 80%. Further, the company has 30 months of USD reserves to cover preferred equity dividend payments, added th ...