Strive offers an asymmetric but highly volatile Bitcoin treasury proxy, with 23,156 BTC and a debt-free preferred-equity model offset by a 2.09x mNAV premium and severe crypto-regulatory risk.
Overview
Strive, Inc. (Nasdaq: ASST) is a hybrid financial-services and corporate-treasury company created through the September 12, 2025 reverse merger of Asset Entities and Strive Enterprises. It combines an SEC-registered adviser with 13 ETFs, CITs, and direct indexing, alongside Clinivanta’s QuantaFlo preventative vascular diagnostic. Advisory fees are based on more than $2.5 billion of AUM, while healthcare revenue comes from device sales and licensing. **The central investment proposition is a Bitcoin treasury funded through perpetual preferred equity rather than traditional debt.** SATA pays a 13.00% annualized dividend daily, and the company held 23,156 BTC after purchasing 1,800 BTC for $143.00 million in late August 2026. Q2 2026 revenue rose 94.6% year over year to $2.94 million, but operating expenses reached $24.40 million and GAAP net loss was $257.60 million, largely because of a $228.03 million unrealized Bitcoin loss. The company was debt-free by August 7, 2026, with $154.90 million of cash and $48.00 million of STRC preferred stock. At a $27.14 share price and $2.43 billion market capitalization, ASST traded at approximately 2.09x modified NAV. Near-term catalysts include further Bitcoin purchases, ETF inflows, SATA execution, and Clinivanta monetization; consensus targets range from $26.00 to $38.00.