Strive's Bitcoin Holdings Reach 35,595 BTC as TD Cowen Raises Price Target 27%

Bitcoin treasury company Strive — part of a growing cohort of publicly listed firms that raise capital to accumulate bitcoin as a core balance-sheet asset — is drawing renewed attention from Wall Street after a rapid acquisition program lifted its reported holdings to 35,595 BTC, while the firm also seeks financing through a substantial preferred-share offering.

Analysts at TD Cowen raised their share-price target on Strive from $44 to $56 in an October 16 research update, citing the pace of the company's Bitcoin purchases. The roughly 27% increase follows a buying program that added 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 the company among the larger corporate holders of the asset, though it remains far behind Strategy, the largest corporate Bitcoin holder and the firm that pioneered the balance-sheet accumulation model Strive now follows.

To fund further acquisitions, Strive 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.

Preferred equity of this kind can raise cash without the immediate dilution associated with issuing new common shares, but preferred dividends create their own recurring costs on the balance sheet. The instruments typically sit between debt and common stock in a company's capital structure, which is why the size and terms of such raises are a recurring focus for investors tracking accumulation strategies.

The company has repeatedly expanded its Bitcoin holdings, including a previously reported purchase that lifted its treasury above 26,000 BTC.

Bitcoin Per Share Is the Real Test

A rising total BTC balance does not automatically mean existing shareholders benefit if the company simultaneously expands its share count or takes on expensive financing obligations. For that reason, investors must assess Bitcoin holdings alongside the capital structure that supports them — a bitcoin-per-share lens that has become a standard yardstick across the corporate accumulation sector.

TD Cowen's higher target signals optimism about Strive's execution, but it remains an analyst opinion rather than a guaranteed future share price.

The company's next financing and treasury disclosures will show whether it can keep increasing its Bitcoin exposure on terms that make economic sense for shareholders.

Written by the News Desk and edited by Samuel Rae. Originally published via NewsBTC.