Strive Holds 35,595 BTC as TD Cowen Raises Target
Strive’s Bitcoin holdings have climbed to 35,595 BTC after weeks of buying. On 16 October, TD Cowen raised its price target for Strive shares from $44 to $56, a 27% increase. Strive also priced an offering of 7 million preferred shares at $90 each, which could raise about $630 million before expenses. The financing avoids immediate dilution of common shares but brings dividend costs and could fund further Bitcoin purchases. Despite the analyst upgrade and growing Bitcoin holdings, Strive shares fell 6.1% on Friday, in line with Strategy. For Bitcoin traders, the purchases add a potential source of corporate demand, but the share-price target is an analyst opinion, not a guarantee; future buying and the broader market remain key factors.
Bullish
Strive’s accumulated Bitcoin holdings and the possibility of using up to $630 million in preferred-share proceeds for further purchases point to potential incremental demand for BTC. In the short term, the reported buying may support sentiment, although the preferred-share offering does not confirm that all proceeds will be used to buy Bitcoin, and broader market moves may outweigh one company’s activity. In the longer term, sustained corporate accumulation could provide a source of demand, but the effect depends on continued purchases and market conditions. The 6.1% fall in Strive shares and TD Cowen’s higher target relate to the company’s equity, not directly to Bitcoin’s price; the target is not a guarantee. Overall, the news is mildly supportive for BTC, rather than a decisive market-wide catalyst.