Strive Jumps to Fifth-Largest Bitcoin Treasury After $143M Buy; TD Cowen Lifts Target to $32
ASST has more than doubled off its 52-week low of $7.02.
Summary
Strive bought 1,800 BTC for about $143 million at an average price of $79,431, lifting total holdings to 23,156 BTC and making it the fifth-largest public bitcoin treasury, ahead of Bullish. TD Cowen raised its price target to $32 from $28, citing treasury activity that 'meaningfully exceeded' its model, and now expects nearly 4,300 BTC in Q3 purchases versus a prior 1,500 BTC forecast. The stock rose about 6% to $23 on Monday, extending a six-month gain of nearly 165%. Year-to-date BTC yield reached 40.8%, up from under 37% in early June. This follows the 8-K filed earlier today disclosing the purchase; the analyst upgrade and ranking milestone are new developments.
At the time of this announcement, ASST was trading at $23.19 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $2.1B. The 52-week trading range was $7.02 to $252.00. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: The Block.