Strive Bitcoin Holdings Reach 35,595 BTC As Wall Street Raises Price Target 27%

TL;DR: TD Cowen reportedly raised its Strive share-price target from $44 to $56 after the Bitcoin treasury company expanded its holdings to 35,595 BTC. Strive is also seeking financing through a substantial preferred-share offering. Bitcoin treasury company Strive is attracting fresh attention from Wall Street after a rapid buying programme took its reported holdings to 35,595 BTC. TD Cowen analysts increased their share-price target on Strive from $44 to $56 in an October 16 research update, pointing to the pace of the company’s Bitcoin acquisitions. The company has accumulated thousands of BTC in a matter of weeks, considerably exceeding some earlier analyst expectations. A Growing Treasury Needs Funding Strive’s strategy depends on raising capital and acquiring additional Bitcoin. Its announced purchases have positioned it among the larger corporate holders, though still far behind Strategy. The firm also announced pricing for a substantial preferred stock offering. Seven million shares at $90 each would generate approximately $630 million in gross proceeds before expenses, assuming completion on the announced terms. Such financing can raise cash without the immediate dilution a...