Strive Adds 7,600 BTC as TD Cowen Raises Target
Strive increased its Bitcoin holdings from 28,000 BTC at the end of September to 35,595 BTC, adding nearly 7,600 BTC in about two weeks. Reported purchases included 3,311 BTC on 13 October and 2,822 BTC on 14 October. The US-listed company is now the fourth-largest public-company Bitcoin holder, narrowly ahead of MARA Holdings. TD Cowen raised its Strive price target from $44 to $56 after the buying exceeded its estimate for the company’s entire fourth-quarter accumulation. Strive shares nevertheless fell 6.6% to $23.96 on Friday amid dilution from $27 warrant exercises, which have now been completed. The company is also seeking to raise $630 million through preferred shares, with proceeds intended for dividends and further Bitcoin purchases rather than additional common-share issuance. The treasury expansion is a positive signal for Bitcoin demand, although the broader market impact may be limited; the financing plan and Bitcoin price remain important risks for Strive.
Bullish
Strive’s rapid accumulation adds a positive demand signal for BTC and may reinforce the view that publicly listed companies are continuing to adopt Bitcoin as a treasury asset. In the short term, the buying could support sentiment and encourage traders to watch for further institutional purchases. However, the company’s purchases alone are unlikely to determine the wider BTC market, and the summaries provide no evidence of a lasting change in supply or market liquidity. Over the longer term, continued treasury buying could provide incremental support if other firms follow suit. The effect depends on Bitcoin’s price trend and whether Strive can complete its preferred-share financing as planned; share dilution and financing uncertainty are company-specific risks rather than direct bearish signals for BTC. Overall, the news is modestly bullish for Bitcoin, with limited certainty about its price impact.