Strive expands Bitcoin holdings to 35,595 BTC as TD Cowen raises price target

Strive, Inc. has significantly expanded its Bitcoin treasury, with holdings reaching approximately 35,595 BTC. This rapid accumulation, which included purchasing thousands of coins in recent weeks, has surpassed previous analyst expectations for the fourth quarter.

In response to this aggressive acquisition strategy, TD Cowen raised its price target for Strive (ASST) from $44 to $56, a 27% increase. Analysts noted that the company's pace of buying has positioned it as a major corporate holder of Bitcoin.

To fund its ongoing operations and Bitcoin purchases, Strive has priced an upsized offering of 7,000,000 shares of its 15% Series A Perpetual SATS Preferred Stock at $90 per share. The offering aims to generate approximately $630 million in gross proceeds. The company intends to use these funds for general corporate purposes, including the acquisition of Bitcoin and Bitcoin-related products, as well as working capital and potential business acquisitions. Strive also plans to increase its existing dividend reserve to cover approximately 18 months of preferred stock dividend payments.