TD Cowen: Crypto stocks like Nakamoto could outperform BTC ETFs

U.S. investment bank TD Cowen has identified a value investment opportunity in crypto-related stocks Nakamoto (NAKA), SharpLink Gaming (SBET), and Strive (ASST), despite their share prices having fallen by over 90%. According to CoinDesk, TD Cowen analyst Lance Vitanza explained that these stocks could outperform Bitcoin ETFs if cryptocurrency prices recover and the companies continue to expand their token holdings per share. He noted that these firms are implementing strategies such as purchasing Bitcoin and Ethereum and generating revenue from staking. Vitanza suggested these approaches could yield better returns than spot crypto funds and help cover costs, particularly during poor market conditions. Based on the assumption that Bitcoin will reach approximately $140,000 and Ethereum will hit about $3,650 by the end of 2026, Vitanza set price targets of $1 for Nakamoto, $16 for SharpLink, and $26 for Strive, assigning a "Buy" rating to the stocks.