NEW YORK, August 25, 2026, 13:53 EDT
- Strive stock climbed 9.43% to $21.59 at 13:46 EDT, trading at 2.10 times its average volume.
- The company acquired 1,110 bitcoin for $81.5 million, raising its holdings by 5.48% over the week.
- The number of effective common shares rose by 4.24%, resulting in a bitcoin per share increase of just 1.19%.
- A preferred claim estimated at $827 million leaves the common-stock valuation highly responsive to bitcoin and potential new issuance.
Shares of Strive, Inc. NASDAQ:ASST rose 9.43% on Tuesday following the bitcoin-treasury firm’s announcement of its biggest weekly acquisition in several months. The stock changed hands at $21.59 as of 13:46 EDT. Trading volume hit 9.3 million shares, exceeding double the stock’s recent average.
The acquisition was significant, but the increase per share was considerably less.
Between August 17 and August 21, Strive acquired 1,110 bitcoin at a total cost of approximately $81.5 million. This increased its treasury by 5.48%, bringing holdings to 21,356 coins. The average cost per coin, factoring in fees, was $73,409.
The financing altered the denominator, bringing effective common shares up by 4.24% to 89.68 million. As a result, bitcoin per effective share stood at roughly 0.000238, marking just a 1.19% weekly increase.
| Weekly measure | August 14 | August 21 | Change |
|---|---|---|---|
| Bitcoin held | 20,246 | 21,356 | +5.48% |
| Effective common shares | 86.04 million | 89.68 million | +4.24% |
| Bitcoin per effective share | 0.0002353 | 0.0002381 | +1.19% |
| SATA preferred shares | 7.83 million | 8.27 million | +5.64% |
| Cash | $154.8 million | $171.9 million | +$17.1 million |
The common-stock assessment involves an additional aspect. Bitcoin hovered around $78,646 at 13:46 EDT, putting the value of Strive’s coins at about $1.68 billion. Including cash holdings and its $48.6 million STRC stake, the total gross liquid assets come to approximately $1.90 billion.
This sum nearly matches the $1.94 billion market value cited on Tuesday. However, the calculation does not include the senior SATA preferred tier. With each of the 8.27 million SATA shares having a $100 liquidation preference, these shares hold a claim estimated at $827 million, which comes ahead of the common shareholders.
Following the claim, estimated net liquid assets for common shareholders stand at approximately $1.07 billion, or $11.96 per effective share. ASST traded nearly 80% higher than this estimate. The figure does not include the value of operating businesses, taxes, additional liabilities, and 26.60 million traditional warrant shares.
The preferred financing carries a steep price tag. In August, SATA’s annualized dividend rate reached 13%. Strive disclosed $39.7 million in preferred dividends during the first half, as operating cash flow registered a negative $39.4 million.
The balance sheet continued to expand rapidly. As of June, assets reached $1.38 billion, with $1.16 billion held in bitcoin. First-half revenue stood at $5.7 million. By August 7, the company had cleared both its short-term and long-term debt.
Chief Executive Matt Cole stated he was “very strong” in his belief that the bitcoin bear market was over. Bitcoin moved above $80,000 in early trading on Tuesday, before retreating. The cryptocurrency retained a 28% gain in August as a softened dollar boosted appetite for alternative assets. Reuters
| Analyst | Date | Recommendation | Price target |
|---|---|---|---|
| H.C. Wainwright | August 11, 2026 | Buy, reaffirmed | $36, down from $37 |
| TD Cowen | July 22, 2026 | Buy, reaffirmed | $28, lowered from $32 |
| Benchmark | June 2, 2026 | Buy, new coverage | $32 |
| B. Riley Securities | May 15, 2026 | Buy | $20 |
| Consensus | Current | Strong Buy, five analysts | $26.60 average |
Analysts describe the issuance as accretive if bitcoin per share increases. Tuesday’s filing satisfies this condition, but only slightly. The 1.19% weekly increase is significant, though it lags the treasury’s 5.48% headline growth.
Strategy Inc. NASDAQ:MSTR opted not to purchase bitcoin last week. The company raised $2 billion through common equity, increasing its dollar holdings. This highlights how treasury-focused companies are weighing asset accumulation with the risks tied to funding.
Risks: If bitcoin declines, asset values would drop at once. Ongoing common issuance may erode voting rights and economic stakes. Additional SATA issuance raises dividend commitments and prioritizes claims above those of regular shareholders.
Upcoming filings are more significant than just the number of coins held. Investors require progress on bitcoin per share, preferred capital, and cash commitments to advance simultaneously.
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