Strive Surges Past Bullish as Corporate Bitcoin Buying Intensifies
Strive, a publicly traded asset manager and Bitcoin (BTC) treasury company, has made another significant purchase of BTC. According to a Form 8-K filing released August 31, Strive acquired 1,800 BTC between August 24 and August 28 for approximately $143 million at an average price of $79,431 per coin.
This latest acquisition brings Strive's total holdings to 23,156 BTC, up from 21,356 BTC the prior week. The company has seen a significant increase in its BTC holdings, with Adam Livingston noting that the latest purchase increased Strive's BTC holdings by approximately 8.4% in just five business days.
The acquisition pushed Strive past Bullish to become the fifth-largest publicly traded corporate holder of Bitcoin, according to BitcoinTreasuries data. TD Cowen analysts responded by raising their price target on Strive's ASST shares more than 14% to $32 from $28, while maintaining a Buy rating.