Smaller Crypto-Linked Stock Soars Past Strategy as GameStop Misses Rally

Bitcoin's rally in August has lifted many crypto-linked equities, including Strive (ASST) stock, which is on track to nearly double this month. ASST shares have risen over 95% in August so far, outperforming other crypto-linked stocks, including the largest Bitcoin treasury Strategy (MSTR).

While MSTR gained around 36%, ASST has seen a much larger gain, with its roughly 21,356 BTC holdings compared to more than 840,000 BTC for MSTR. Strive continues to raise capital to expand its Bitcoin holdings.

GameStop (GME) is missing out on the rally, having fallen over 17% in August despite Bitcoin's surge. The company's structure of its Bitcoin holdings, which includes pledging nearly all of its coins as collateral for covered-call options, has limited its direct exposure to further gains.