Strive Bitcoin holdings rise to 35,595 BTC, TD Cowen raises price target to $56

Odaily News: 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 surpassing its previous full-quarter forecast.

Data shows 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 listed 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 completion expected on October 20. Due to equity dilution from warrant exercises, Strive's stock fell 6.6% on Friday to $23.96, but remains up over 38% year-to-date. Analysts believe that once the $27 warrant exercise is completed, related selling pressure is expected to ease. (The Block)