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Strive’s Bitcoin holdings rise to 35,595 BTC as TD Cowen raises its price target to $56
TD Cowen analysts Lance Vitanza and Jonnathan Navarrete raised their price target for Bitcoin treasury company Strive (ASST) from $44 to $56, citing the company’s Bitcoin purchases over the past two weeks, which have already exceeded their previous forecast for the entire quarter.
Data shows that Strive’s Bitcoin holdings have grown from 28,000 BTC at the end of September to 35,595 BTC, worth approximately $2.9 billion at current prices, making it the fourth-largest holder among publicly traded companies. The company purchased 3,311 BTC and 2,822 BTC on October 13 and 14, respectively.
In addition, Strive plans to expand the offering of its SATS preferred stock to 7 million shares at $90 per share, aiming to raise $630 million. The offering is expected to close on October 20. Strive shares fell 6.6% to $23.96 on Friday amid dilution from warrant exercises, but are still up more than 38% year to date. Analysts believe that selling pressure may ease once the $27 warrants have been exercised. (The Block) $BTC
Strive’s Bitcoin holdings rise to 35,595 BTC as TD Cowen raises its price target to $56
TD Cowen analysts Lance Vitanza and Jonnathan Navarrete raised their price target for Bitcoin treasury company Strive (ASST) from $44 to $56, citing the company’s Bitcoin purchases over the past two weeks, which have already exceeded their previous forecast for the entire quarter.
Data shows that Strive’s Bitcoin holdings have grown from 28,000 BTC at the end of September to 35,595 BTC, worth approximately $2.9 billion at current prices, making it the fourth-largest holder among publicly traded companies. The company purchased 3,311 BTC and 2,822 BTC on October 13 and 14, respectively.
In addition, Strive plans to expand the offering of its SATS preferred stock to 7 million shares at $90 per share, aiming to raise $630 million. The offering is expected to close on October 20. Strive shares fell 6.6% to $23.96 on Friday amid dilution from warrant exercises, but are still up more than 38% year to date. Analysts believe that selling pressure may ease once the $27 warrants have been exercised. (The Block) $BTC