TLDR
- Strive purchased 1,800 BTC for $143 million between Aug. 24-28 at an average price of $79,431 per coin
- Total holdings now stand at 23,156 BTC, making Strive the fifth-largest publicly traded corporate Bitcoin holder
- TD Cowen raised its price target on ASST from $28 to $32, maintaining a Buy rating
- ASST stock was up roughly 6% on Monday, and is up nearly 165% over the past six months
- Strategy also returned to Bitcoin buying last week, picking up 4,603 BTC for roughly $370 million
Strive, the publicly traded Bitcoin treasury company, has broken into the top five corporate Bitcoin holders after buying 1,800 BTC last week for approximately $143 million.
Strive acquired an additional 1,800 BTC for $143M at an average cost of $79,431 per bitcoin, bringing total holdings to ₿23,156.$ASST $SATA pic.twitter.com/6ztKhC4PFF
— Matt Cole (@ColeMacro) August 31, 2026
The purchase was made between Aug. 24 and Aug. 28 at an average price of $79,431 per coin, including fees. CEO Matt Cole confirmed the acquisition on Monday via a Form 8-K filing.
That brought Strive’s total Bitcoin holdings to 23,156 BTC, up from 21,356 BTC the week prior. The previous week, the company had also picked up 1,110 BTC for around $81.5 million at an average of $73,409 per coin.
The latest buy pushed Strive past Bullish, the crypto exchange and digital asset company, to claim the number five spot among publicly traded corporate Bitcoin holders. The company marked the moment on X with a simple message: “Strive to five.”
ASST stock was trading up around 6% on Monday morning to $23. The stock is up nearly 165% over the past six months.
Adviser Adam Livingston noted the latest purchase grew Strive’s Bitcoin holdings by roughly 8.4% in just five business days.
TD Cowen Lifts Price Target
TD Cowen responded to the news by raising its price target on ASST more than 14%, from $28 to $32, while keeping a Buy rating. The firm said the increase reflects treasury activity that has “meaningfully exceeded” its previous model.
The analysts now expect Strive to purchase nearly 4,300 BTC in the third quarter, a jump of more than 180% from their prior forecast of just 1,500 BTC. They then project another 3,000 BTC in the fourth quarter.
That would put Strive’s total holdings above 27,100 BTC by year end. That figure would put it within range of overtaking the number four spot, held by Adam Back’s Bitcoin Standard Treasury Company with just over 30,000 BTC.
TD Cowen is keeping its year-end Bitcoin price assumption at around $97,500, alongside a 3x multiple on Strive’s projected Bitcoin treasury gains.
Strive’s year-to-date BTC yield reached 40.8% as of its Aug. 28 filing, up from under 37% in early June.
Strategy Returns to Bitcoin Buying
Strive is not the only company loading up on Bitcoin. Strategy, the largest corporate Bitcoin holder in the world, also returned to buying last week after a roughly 10-week pause.
Strategy acquired 4,603 BTC for nearly $370 million at an average price of $80,318. That pushed its total holdings back above 845,000 BTC. The company had paused buying in late June to focus on rebuilding cash reserves.
Both companies have been buying into a broader Bitcoin recovery. The rally started on Aug. 19 after the US Treasury announced plans to double long-term bond buybacks, pushing yields lower and lifting risk assets. Bitcoin has since rallied more than 23%, recently hitting above $81,000.
TD Cowen’s updated model now projects Strive ending 2026 with 27,156 BTC, nearly 4,300 more than its previous forecast.
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