ASST Stock Edges Up After ‘Buy’ Rating – Fidelity, Capital Group Emerge As Top Holders

• H.C. Wainwright initiated coverage on Strive with a ‘Buy’ rating and a $36 price target, implying significant upside from its $15.62 stock price.
• The firm cited Strive’s rapid shift into a Bitcoin treasury company and its aggressive accumulation strategy.
• Institutional backing is building, with Fidelity and Capital Group now among the company’s largest shareholders.

Strive Inc. (ASST) was initiated with a ‘Buy’ rating and a $36 price target by investment firm H.C. Wainwright on Tuesday, which pointed to the company’s rapid transformation into a Bitcoin (BTC) treasury player following its reverse merger with Asset Entities. 

H.C. Wainwright analyst Mike Colonnese noted that Strive is “uniquely positioned to prevail as one of the long-term winners in the Bitcoin treasury space,” citing its scale, capital structure, and management execution. 

The target represented substantial upside from the current stock price of over $15, which has surged about 25% over the past week.

Strive currently holds around 13,000 Bitcoin, valued at nearly $1 billion, and remains one of the largest holders of the cryptocurrency following its reverse merger with Asset Entities in September last year. 

Strive’s stock price was trading over $15 up by 0.3% during mid-day trading hours amid broader market weakness among all crypto-related equities. On Stocktwits, the retail sentiment around ASST remained in the ‘extremely bullish’ territory, as chatter around it remained in the ‘extremely high’ levels over the past day. 

Institutional Support Builds

Institutional interest in the Vivek Ramaswamy-backed company is also rising. CEO Matt Cole pointed out on Tuesday that Fidelity and Capital Group were among the largest shareholders of Strive. He said the level of institutional support reflected confidence in what the company was building, as it expanded its presence in the growing Bitcoin treasury space.

Filing data shared by Cole showed Fidelity-linked FMR LLC holds about 7.14 million shares, or roughly 12.05% of the company, while Capital Group entities, including Capital Group Cos Inc. and Capital Research Global Investors, each hold around 2.63 million shares, representing about 4.44% apiece.

Read also: Lawmaker Who Opposed CLARITY Act Unveils Bipartisan Bill For National Fintech, Crypto License

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