Strive's Bitcoin holdings increase to 35,595 BTC, TD Cowen raises its price target to $56

Odaily News: TD Cowen analysts Lance Vitanza and Jonnathan Navarrete have raised their price target on Bitcoin treasury company Strive (ASST) from $44 to $56, citing the company's Bitcoin purchases over the past two weeks having already exceeded its previous forecast for the entire quarter.

Data shows that Strive's Bitcoin holdings have increased from 28,000 BTC at the end of September to 35,595 BTC, worth approximately $2.9 billion at current prices, ranking fourth among public companies. The company purchased 3,311 BTC and 2,822 BTC on October 13 and 14, respectively.

Additionally, Strive plans to expand its SATS preferred stock offering to 7 million shares at $90 per share, aiming to raise $630 million, with the offering expected to close on October 20. Due to equity dilution from warrant exercises, Strive's stock price fell 6.6% on Friday to $23.96, but remains up over 38% year-to-date. Analysts believe that with the completion of the $27 warrant exercises, the related selling pressure is expected to ease. (The Block)