B. Riley Rates Strategy and Strive Buy, Citing Bitcoin Treasury Growth Potential

Strategy (MSTR) and Strive (ASST) have made Bitcoin a core balance-sheet asset and raise funds through common and preferred share offerings to expand their holdings. Bitcoin fell more than 45% from a high of about $126,000 in October 2025 to roughly $69,000 in early March 2026, weighing on the companies’ share prices and net asset value multiples.

On March 10, 2026, investment bank B. Riley initiated coverage of both companies with buy ratings, setting price targets of $175 for Strategy and $12 for Strive. Their shares were trading at $141.82 and $8.67, respectively, at the time. Strategy held 738,731 Bitcoin and about $2.25 billion in cash, while Strive held about 13,100 Bitcoin and had approximately $2.5 billion in assets under management.