Bitcoin (CRYPTO:BTC) climbed to $73,000 in Friday morning trading, and TD Cowen moved fast. The firm issued three new Buy initiations in a single morning, all targeting companies building crypto treasury strategies around Bitcoin and Ethereum (CRYPTO:ETH). It’s a coordinated, high-conviction bet on where digital assets are heading by year-end.

TD Cowen’s underlying thesis rests on a year-end Bitcoin price target of $140,000 and a year-end Ethereum target of $3,650. Those are aggressive calls from current levels, but the firm is backing them with fresh analyst coverage across the sector. The initiations sent several small-cap crypto treasury names sharply higher this morning.

Bitcoin…