Don't want to trade it yourself?
Our desk runs DEX portfolios on profit share.
Financial services firm StoneX raised its price target on Strive, which is pursuing a Bitcoin treasury strategy, to $43 from $32, while maintaining a Buy rating, The Block reported.
Mark Palmer, StoneX senior equity research analyst, said the outlook for Strive’s Bitcoin accumulation strategy has improved. Palmer said Strive strengthened the sustainability of its Bitcoin treasury strategy using preferred stock as it overhauled its capital structure. On Oct. 20, Strive completed an expanded IPO of seven million shares of SATS preferred stock with a 15% annual dividend, securing $630 million in gross proceeds before taxes. Palmer said the fundraising and warrant expirations marked a turning point in the reshaping of Strive’s capital structure. Over the past year, the company has built a model for funding Bitcoin purchases through perpetual preferred stock, and the addition of SATS alongside its existing variable-rate Series A perpetual preferred stock, SATA, allows it to address demand from different income-focused investors. Separately, Strive bought an additional 6,182 BTC from Oct. 17 to 23, bringing its total holdings to 43,000 BTC.