Investment bank B. Riley announced its comprehensive analysis of Nasdaq-listed Strategy and Strive companies. While setting a target price for both companies, the institution predicted a target of $175 for Strategy and $12 for Strive. In the analysis, the comment that these shares are seriously underpriced from their current values stands out.
Crypto Asset Strategies of Companies
The strategy is a leader among companies that stand out with their corporate bitcoin reserves. The company holds the largest institutional asset in the world, with 738,731 bitcoins in its portfolio. Strategy’s digital credit platform and ability to use different capital instruments increases its financial flexibility. Strive, on the other hand, adopts a dual business model with approximately 13,132 bitcoins and $2.5 billion in total assets under management. Following its IPO in September 2025, the company acquired Semler Scientific’s medical device unit through a share swap in January 2026.
Market Performance and Analyst Reviews
Strategy shares lost 51.6 percent of their value during the year. On the other hand, the company raised $ 25.3 billion through share issuance in 2025 and increased its software subscription revenues by over 62 percent in the last quarter. Strive shares have decreased by 42.3 percent since the beginning of the year and decreased by 28.6 percent in the last month. B. Riley analysts note that Strive’s capital structure and short-term debt are fairly controlled.
The B. Riley report emphasizes that the stock valuation declines seen throughout the sector present temporary opportunities rather than structural ones. While Strategy’s market price was 1.2 times its net asset value, this rate was over three times in 2024. Strive shares are trading at close to 90 percent of their regulated net asset value and the impact of early volatility is observed.
Bitcoin Price Volatility and Company Effects
The decline in Bitcoin price since the end of 2025 also affected the shares of crypto-focused companies. Bitcoin fell 45 percent from its peak in October 2025 to early March 2026. In this process, the net asset multipliers of both Strategy and Strive decreased and a slowdown was observed in the companies’ bitcoin accumulation speed.
A thousand dollar change in Bitcoin price creates a value difference of approximately $739 million in Strategy’s reserves and $13.1 million in Strive. This reveals how sensitive the asset value of both companies is directly to the Bitcoin price.
The strategy purchased 17,994 bitcoins in a large purchase last week. Thus, the value of the company’s bitcoin assets reached around 50 billion dollars, with its total reserves reaching 738,731 BTC.
