Strive Jumps into Bitcoin Top Five with $143 Million Acquisition

Strive has catapulted to become the fifth-largest publicly traded bitcoin treasury company after purchasing an additional 1,800 BTC for roughly $143 million. The acquisition took place between August 24th and August 28th at an average price of $79,431.

The purchase bumped Strive's total holdings to 23,156 BTC, according to a Form 8-K filing released Monday. This move pushed the company ahead of crypto exchange Bullish in the rankings, putting it in the number five spot among publicly traded corporate bitcoin holders, as per Bitcoin Treasuries.

TD Cowen analysts raised their price target for Strive's ASST shares by over 14% to $32 from $28 while maintaining a Buy rating. In a Monday research note, the firm stated that the increase reflects treasury activity that has 'meaningfully exceeded' its previous model.