TD Cowen raises Strive's price target to $56 following better-than-expected BTC accumulation.

PANews October 17 news, according to The Block, TD Cowen analysts raised the price target for Bitcoin treasury company Strive from $44 to $56 and maintained a "Buy" rating. Analysts Lance Vitanza and Jonnathan Navarrete pointed out that the amount of Bitcoin Strive purchased in the past two weeks has exceeded its previous expectation for the entire fourth quarter. The company's Bitcoin holdings increased from 28,000 coins at the end of September to 35,595 coins (worth about $2.9 billion), a net increase of nearly 7,600 coins, far exceeding TD Cowen's original estimate of 4,750 coins. Strive has now jumped to fourth place in Bitcoin holdings among publicly traded companies, slightly surpassing MARA. In addition, Strive plans to expand its preferred stock offering to 7 million shares ($90 per share), aiming to raise $630 million to continue increasing its Bitcoin holdings without diluting common stock. The offering is expected to be completed on October 20.

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