Benchmark-StoneX analysts grew bullish towards Strive after the Bitcoin-buying asset manager padded cash reserves while growing its stockpile.

Strategy broke its long-standing HODL streak, selling bitcoin for the first time in years.

Strategy sold 32 BTC for $2.5M between May 26-31, earmarking proceeds for preferred-stock dividends — first sale since the 2022 tax-loss harvest.

The move suggests a greater willingness on the part of Michael Saylor and Strategy to use BTC holdings to support the capital structure, said one analyst, while others disagreed.

Strive (ASST) plans to expand its capital raise by $4.2 billion to accelerate aggressive Bitcoin accumulation.

Strategy's last sale preceded a massive buying spree, but the company and the market look very different today.

The bitcoin-hoarding firm founded by Michael Saylor sold 32 coins last week for $2.5 million to fund distributions on its preferred stock

Strategy’s sale of 32 Bitcoin has prompted investors to reassess how corporate BTC treasury companies are valued, with greater focus on liquidity and capital management.

Benchmark's Mark Palmer initiated coverage with a Buy rating and $32 price target as ASST shares fell 3.59% pre-market.

Benchmark's Mark Palmer also initiated coverage of the stock with a Buy rating and $32 price target as ASST shares fell about 4% pre-market.

Strive purchased 2,500 Bitcoin for approximately $185 million between May 23 and June 1, growing its BTC war chest to 19,000 BTC.

Strive added 2,500 BTC for $185.2 million, boosting its holdings to 19,000 BTC and cementing its position among the largest public corporate Bitcoin holders.

In an initiation note, Benchmark said the company has "one of the most differentiated capital structures in the bitcoin treasury sector."

Strive purchased 2,500 bitcoin, raising its holdings to 19,000 BTC, while also expanding cash reserves. The company is positioning itself for future

Benchmark-StoneX analysts grew bullish towards Strive after the Bitcoin-buying asset manager padded cash reserves while growing its stockpile.