According to CoinDesk, investment bank B. Riley initiated coverage on Strategy (MSTR) and Strive (ASST) with Buy ratings and price targets of $175 and $12, respectively. B. Riley noted that Bitcoin’s decline of over 45% from its October 2025 high of approximately $126,000 to around $69,000 has narrowed the premium of both companies’ market valuations over their net asset values and slowed equity fundraising. Currently, Strategy holds 738,731 BTC, with its stock trading at approximately 1.2x its mNAV—far below the 3.4x peak seen in 2024—while Strive holds approximately 13,100 BTC and also manages about $2.5 billion in assets, with its stock trading at approximately 0.9x its mNAV. Analysts believe the preferred stock yields of both companies (8% to 12.5%) are attractive and could open new pathways for digital credit financing growth.
B. Riley Initiates Coverage on Strategy and Strive with Buy Ratings
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Summary
B. Riley has initiated coverage on Strategy (MSTR) and Strive (ASST), both with buy ratings and price targets of $175 and $12, respectively. The report highlights on-chain data indicating that Bitcoin’s decline from $126,000 in October 2025 to $69,000 has reduced valuation premiums. Strategy trades at 1.2x mNAV with 738,731 BTC, while Strive holds 13,100 BTC and a $2.5 billion asset business at 0.9x mNAV. Analysts note that preferred stock yields between 8% and 12.5% could fuel digital credit growth. The Fear & Greed Index remains a key indicator of market sentiment.
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