Strive plans new funding to buy more bitcoin, and TD Cowen raised its price target on the company's stock by 27% in response. The move shows analysts still reward aggressive corporate bitcoin buying, even as warrant-linked stock pressure fades.
What actually happened
According to The Block, TD Cowen raised its price target on Strive by 27% on 16 October 2026. The brokerage pointed to the company's ongoing bitcoin buying spree as the catalyst behind the upgrade. Strive is preparing fresh funding specifically to purchase more bitcoin, the report said. TD Cowen also noted that stock pressure tied to the company's warrants is easing. Warrants typically let holders buy shares at a set price, and large warrant positions can weigh on a stock as they get exercised. The report did not specify the exact size of Strive's planned funding round, the company's current bitcoin holdings, or the new price target in dollar terms.
How we got here
Strive is part of a wider trend of public companies holding bitcoin as a treasury asset, a strategy that gained traction in recent years. Firms funding bitcoin purchases sometimes use warrants, instruments that can dilute existing shareholders once exercised. TD Cowen's note suggests dilution risk from Strive's warrants is now fading, removing a drag that previously limited the stock's upside. The 27% price target increase reflects renewed analyst confidence that Strive's bitcoin accumulation strategy can support shareholder value, despite the risks of holding a volatile asset on a corporate balance sheet.
Why this matters for you
For Strive shareholders, an easing warrant overhang could mean less future dilution and steadier share price support. For bitcoin holders broadly, another public company expanding accumulation adds to corporate demand, a factor some investors track closely. For builders in crypto and fintech, Strive's approach offers a live case study in financing bitcoin purchases through public markets. Anyone evaluating bitcoin treasury companies should watch whether TD Cowen's price target materializes, and whether Strive's new funding round closes on favorable terms.
The bigger question
Can corporate bitcoin treasury strategies keep earning analyst upgrades if bitcoin's price turns volatile, or does today's confidence rest on a market that has only known gains? As more companies tie their stock value to bitcoin holdings, what happens during a sustained downturn remains untested.
What to watch
Watch for details on Strive's new funding round, including its size and structure. Future filings should reveal updated bitcoin holdings and the exact price target TD Cowen set. Analysts will also track whether warrant-related stock pressure keeps easing in the coming months.
