Strive (ASST) has surpassed Bullish to become the fifth-largest publicly traded bitcoin treasury company after acquiring 1,800 BTC for $143 million between August 24 and 28. The firm’s total holdings now stand at 23,156 BTC, according to a Form 8-K filing released on Monday.
The purchase, made at an average price of $79,431 per bitcoin, follows a year-to-date yield of 40.8% as of August 28. TD Cowen has raised its price target for ASST shares to $32, a 14% increase, citing heightened treasury activity. The firm also forecasts Strive could purchase 4,300 BTC in the third quarter and 3,000 BTC in the fourth.
Bitcoin Treasuries, the tracking entity, ranks Strive as the fifth-largest bitcoin treasury company. The move positions the firm ahead of Bullish but behind entities such as the Bitcoin Standard Treasury Company, which holds approximately 30,000 BTC. Meanwhile, Strategy, another treasury firm, has acquired 4,603 BTC for $370 million, bringing its total holdings to 845,050 BTC.
Strive’s latest acquisition underscores growing institutional interest in bitcoin as a reserve asset. The firm’s statement, “Strive to five,” reflects its ambition to expand its market position. Analysts suggest the firm’s strategic buying could further influence bitcoin’s price trajectory in the coming months.
Written by Oliver Grant
Markets Desk
