Strive becomes fifth-largest public bitcoin treasury after 1,800 BTC buy, TD Cowen lifts ASST price target
TD Cowen expects Strive (ASST) to end 2026 with 27,156 BTC, nearly 4,300 more bitcoin than previously forecast.
Strive, a publicly traded asset manager and Bitcoin treasury company, has acquired 1,800 Bitcoin for approximately $143 million, making it the fifth-largest publicly traded corporate holder of the cryptocurrency. The company's Bitcoin holdings have increased from 21,356 BTC to 23,156 BTC in just five business days, a 8.4% rise. CEO Matt Cole announced the acquisition, which took place between August 24 and August 28.
Strive's latest purchase has propelled it past crypto exchange Bullish to become the fifth-largest publicly traded corporate holder of Bitcoin. This acquisition comes at a time when Bitcoin is experiencing a broad recovery, with the value of the cryptocurrency up more than 23% to a recent high above $81,000. The surge in Bitcoin's price can be attributed to the US Treasury Department's announcement of doubling the size of certain long-term bond buybacks on August 19, which helped push Treasury yields lower and fueled a rebound in risk assets.
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