Investment Bank Gives Strategy (MSTR) and Strive (ASST) Buy Ratings, Flags Bitcoin Treasury Discounts
B. Riley initiated coverage of Strategy (MSTR) and Strive (ASST) with Buy ratings, citing discounts in their Bitcoin treasury holdings.Summary
Investment bank B. Riley has issued Buy ratings for Strategy Inc. (MSTR) and Strive, Inc. (ASST), both companies with significant Bitcoin holdings. The firm believes current valuation compression presents an opportunity, as both stocks trade below previous highs despite Bitcoin being near $70,000. Strategy, holding the largest corporate Bitcoin treasury with 738,731 BTC, benefits from its scale and diversified capital structure. Strive operates a dual-engine model with a Bitcoin treasury of 13,132 BTC and an asset management business. B. Riley highlights both companies’ strong capital structures and the sensitivity of their treasury values to Bitcoin’s price fluctuations, noting that a $1,000 move in Bitcoin impacts Strategy by $739 million and Strive by $13.1 million. The initiation follows a broader pullback in Bitcoin and related equities.
(Source：Bitcoin Magazine)