TD Cowen sees 90% upside for bitcoin treasury firm Smarter Web following proposed ‘MORE’ preferred IPO
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TD Cowen projects roughly 90% upside for Smarter Web, a Bitcoin treasury company, following its proposed “MORE” preferred share IPO. The offering is expected to provide additional capital for Bitcoin accumulation and strengthen the firm’s treasury strategy. The bullish view underscores how financing structures tied to Bitcoin holdings could drive substantial equity revaluation, while leaving the company exposed to Bitcoin price volatility and execution risks.
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