Strive’s Bitcoin buying spree earns 27% price target hike from TD Cowen

Bitcoin buying spree — Asset manager Strive Asset Management has announced plans for a fresh funding round to purchase more Bitcoin, prompting investment bank TD Cowen to raise its price target for the firm’s stock by 27%.

TD Cowen analyst Lance Vitanza upgraded his price target for Strive’s shares to $15 from $11.80, citing a more favorable outlook as pressure from outstanding warrants is expected to ease. The analyst maintained an ‘Outperform’ rating on the stock.

The price target revision follows Strive’s recent disclosure that it intends to raise additional capital specifically to expand its Bitcoin holdings. The firm has been actively accumulating the cryptocurrency as part of its investment strategy.

Strive, co-founded by entrepreneur Vivek Ramaswamy, has positioned itself as an advocate for shareholder interests and has integrated Bitcoin into its flagship ETF products, viewing it as a core holding for long-term value.