TD Cowen Lifts Strive Target 27% to $56 After 7,600 BTC Buy Pushes Treasury to 35,595 BTC
Strive overtakes MARA Holdings as the fourth-largest US corporate Bitcoin holder and advances a $630M preferred stock offering.
TD Cowen Raises Strive Price Target 27% to $56 as Bitcoin Holdings Reach 35,595 BTC
US investment bank TD Cowen analysts Lance Vitanza and Jonnathan Navarrete raised their price target on Strive (NYSE: ASST) by 27% from $44 to $56 after the corporate Bitcoin treasury firm accumulated nearly 7,600 BTC over two weeks — surpassing TD Cowen's entire Q4 purchase estimate of 4,750 BTC.
Following acquisitions of 3,311 BTC ($280M) on October 13 and 2,822 BTC ($235M) on October 14, Strive's total holdings climbed from 28,000 BTC to 35,595 BTC (~$2.9 billion), overtaking MARA Holdings (35,577 BTC) to become the fourth-largest US-listed corporate Bitcoin treasury.
$630M SATS Preferred Stock Offering to Fund Non-Dilutive Bitcoin Purchases
While common stock dilution from exercised $27 warrants pressured ASST shares down 6.6% to $23.96 on Friday, Strive is closing an upsized $630 million SATS preferred stock offering (7 million shares at $90) on October 20 to fund future Bitcoin accumulation without diluting common shareholders. Traders can trade Bitcoin (BTC-USDC) perpetuals 24/7 with full self-custody on GaiaEx.