Strive becomes fifth-largest public bitcoin treasury after 1,800 BTC buy, TD Cowen lifts ASST price target

Strive has jumped to become the fifth-largest publicly traded bitcoin treasury company after adding another 1,800 BTC, prompting TD Cowen analysts to raise their price target on the firm's common shares.Strive purchased the bitcoin (BTC) for roughly $143 million between Aug. 24 and Aug. 28 at an average price of $79,431. It brought the company's total holdings to 23,156 BTC, according to a Form 8-K filing released Monday.The additional BTC was enough to bump Strive (ASST) ahead of crypto exchange Bullish to take the number 5 spot among publicly traded corporate bitcoin holders, according to Bitcoin Treasuries. The company celebrated the move on X, writing: "Strive to five."TD Cowen raised its price target for Strive's ASST shares more than 14% to $32 from $28 while maintaining a Buy rating. In a Monday research note, the firm said the increase reflects treasury activity that has "meaningfully exceeded" its previous model.ASST was trading up roughly 6% on Monday morning to $23. The stock remains up nearly 165% in just the past six months alone, according to Google Finance.Strive's year-to-date BTC yield, a metric that compares growth in bitcoin holdings relative to share count, reached 40.8% as of its Aug. 28 filing, up from less than 37% in early June.TD Cowen now expects Strive to purchase nearly 4,300 BTC in the third quarter, a more than 180% jump from its prior forecast of just 1,500 BTC, followed by another 3,000 bitcoins in the fourth quarter. That would put Strive's holdings at over 27,100 BTC, within reach of surpassing the number 4 spot occupied by Adam Back's Bitcoin Standard Treasury Company, which holds a little over 30,000 BTC.The analysts maintained their year-end bitcoin price assumption of around $97,500 and its 3x multiple on Strive's projected bitcoin treasury gains.Bitcoin treasury company top dog Strategy also made its return to bitcoin buying last week, acquiring another 4,603 BTC for nearly $370 million, bringing its total holdings to 845,050 BTC. This was Strategy's first bitcoin buy in roughly 10 weeks after it paused in late June to focus on adding to its cash reserves and selling some in the process.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.