Strive Surges to Fifth Among Public Companies With Record-Breaking Bitcoin Buy

Strive's latest purchase of 1,800 Bitcoin for $143 million has propelled it to fifth place among public companies by Bitcoin holdings.

The company made this significant acquisition between August 24 and August 28 at an average price of $79,431 per coin. This substantial buyout lifts Strive's total Bitcoin holdings to 23,156, surpassing crypto exchange Bullish in the rankings.

TD Cowen raised its price target on Strive shares (ASST) from $28 to $32, a 14% increase, and maintained its 'buy' rating. This upward revision is attributed to Strive's unexpected Bitcoin purchases exceeding the bank's previous model assumptions.

In fact, TD Cowen projects that Strive will acquire an additional 4,300 Bitcoin in the third quarter and 3,000 more in the fourth quarter. If this prediction holds true, its total holdings would exceed 27,100 Bitcoin, potentially placing it within reach of fourth place held by Bitcoin Standard Treasury Company.