Strive buys 1,800 BTC to become fifth-largest public bitcoin holder, TD Cowen raises price target

Strive has become the fifth-largest publicly traded company holding bitcoin after buying 1,800 BTC for roughly $143 million between August 24 and August 28. The purchase, at an average price of $79,431 per bitcoin, brought its total holdings to 23,156 BTC, according to a company filing.

The move pushed Strive ahead of crypto exchange Bullish in the rankings of public corporate bitcoin holders, as tracked by Bitcoin Treasuries.

Key numbers

• Strive bought 1,800 BTC for about $143 million at an average price of $79,431.
• Total holdings now stand at 23,156 BTC.
• TD Cowen raised its price target for Strive’s ASST shares to $32 from $28, maintaining a Buy rating.
• ASST stock was up roughly 6% on August 31, and nearly 165% over the past six months.
• Strive’s year-to-date BTC yield reached 40.8% as of August 28.

TD Cowen updates forecast

TD Cowen now expects Strive to end 2026 with 27,156 BTC, nearly 4,300 more than previously forecast. The firm also increased its third-quarter purchase estimate to 4,300 BTC, up from 1,500 BTC, followed by another 3,000 BTC in the fourth quarter.

The analysts kept their year-end bitcoin price assumption at around $97,500 and maintained a 3x multiple on Strive’s projected bitcoin treasury gains.

Strategy resumes bitcoin purchases

Bitcoin treasury company Strategy also resumed buying last week, acquiring 4,603 BTC for nearly $370 million. This was its first purchase in about 10 weeks, bringing its total holdings to 845,050 BTC.

Sources

• The Block