Strive adds 2,500 bitcoin to hit 19,000 BTC just a day after Strategy turns seller
Strive bought 2,500 bitcoin for about $185.2 million, lifting its holdings to 19,000 BTC. The move came as Benchmark started coverage with a Buy rating and $32 target.
Intelligence analysis by GPT-5.4 Mini
Strive said it added 2,500 bitcoin between May 23 and June 1 at an average price of $74,092, bringing its total stash to 19,000 BTC. The purchase landed just after Strategy disclosed its first publicized bitcoin sale, and Benchmark began coverage with a bullish view on Strive shares.
Strive bought more bitcoin when prices fell, like buying apples on sale and filling its basket to 19,000. An analyst also said the company’s stock could rise a lot from here.
Analysis
Strive keeps buying
Strive Asset Management said in an 8-K filing that it bought 2,500 bitcoin for roughly $185.2 million between May 23 and June 1. The average purchase price was $74,092 per coin, which was lower than its previous disclosed buy of 1,109 BTC at $76,989 on May 22. That suggests the company bought during a pullback in bitcoin prices.
The new purchase lifts Strive’s total holdings to 19,000 BTC, which puts it further up the ranks among public corporate bitcoin holders. The company also said it reported a quarter-to-date BTC yield of 23.0% and a year-to-date BTC yield of 36.7%. Those figures measure bitcoin holdings growth on a per-share basis after dilution from new share issuance.
Strive said its amplification ratio was 57.0%, meaning shareholder bitcoin exposure grew faster than bitcoin’s own price gain over the period. It also said cash reserves were increased to keep an 18-month dividend reserve in place.
Analyst support
Benchmark analyst Mark Palmer initiated coverage of Strive with a Buy rating and a $32 price target. The article says that implies about 93% upside from the company’s recent Class A share price, even though the stock fell in pre-market trading.
The timing is notable because it came one day after Strategy disclosed the first publicized sale of 32 bitcoin. CoinDesk says that sale helped fuel a broader crypto selloff, adding to the market pressure around bitcoin and related stocks.
Key points
- Strive bought 2,500 bitcoin for about $185.2 million at an average price of $74,092 per coin.
- The purchase brought total holdings to 19,000 BTC and was made between May 23 and June 1.
- Strive reported quarter-to-date BTC yield of 23.0% and year-to-date BTC yield of 36.7%.
- Benchmark initiated coverage with a Buy rating and a $32 price target.
- The filing came a day after Strategy disclosed a publicized bitcoin sale, adding to market weakness.
If bitcoin stabilizes or rebounds, Strive’s larger holdings could benefit from the move while its share price may gain support from the new Buy rating and $32 target. The company’s reported BTC yield and preserved dividend reserve also give it a stronger pitch to investors who want bitcoin exposure through a public stock.
If bitcoin keeps falling, the value of Strive’s treasury could drop along with sentiment toward crypto-linked stocks. The stock could also stay under pressure if investors focus on dilution risk, since the company’s yield metrics explicitly account for new share issuance.
