Strive Inc. (NASDAQ:ASST) shares are trading higher Friday alongside Bitcoin, which is trading around $86,309.22, up 2.81% over the past 24 hours.
- Strive stock is among today’s top performers. What’s behind ASST gains?
Why Strive Moves with Bitcoin
Strive, co-founded by Vivek Ramaswamy, is one of the world’s largest corporate holders of Bitcoin, holding more than 23,000 Bitcoin worth approximately $1.8 billion on its balance sheet as part of a strategy focused on accumulating Bitcoin and increasing Bitcoin per share for investors. Because Bitcoin holdings represent a substantial majority of Strive’s market capitalization, the stock functions as a leveraged proxy for Bitcoin’s price, tracking spot Bitcoin exposure with roughly a 78% correlation to the iShares Bitcoin Trust ETF over the past 90 days. As Bitcoin rises, the mark-to-market value of Strive’s treasury increases directly, often producing an outsized move in the stock relative to Bitcoin’s own gain.
The company has continued expanding its Bitcoin treasury in recent weeks, most recently disclosing the purchase of an additional 1,107 Bitcoin, bringing total holdings to approximately 27,462 as of September 25.
Strive Shares Rush Higher
ASST Price Action: At the time of publication, Strive shares are trading 3.79% higher at $31.25, according to data from Benzinga Pro.
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