Strive’s Bitcoin Holdings Reach 35,595 as TD Cowen Raises Target

Strive’s Bitcoin (BTC) holdings rose to 35,595 after two weeks of purchases exceeded TD Cowen’s prior estimate for the full quarter, leading the firm’s analysts to raise their share-price target to $56 from $44. TD Cowen analysts Lance Vitanza and Jonnathan Navarrete made the target change as Strive’s buying accelerated. Strive bought 3,311 BTC on Oct. 13 and made a 2,822-Bitcoin purchase the next day . Holdings rose from 28,000 BTC at the end of September to 35,595 BTC, worth about $2.9 billion at the latest prices and ranking Strive fourth among publicly traded corporate Bitcoin holders. Strive plans to expand its SATS preferred-stock offering to 7 million shares at $90 each, targeting $630 million in proceeds. The offering is expected to be completed Oct. 20.

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