TechFlow News, March 10: According to CoinDesk, investment bank B. Riley initiated coverage on Strategy (MSTR) and Strive (ASST) for the first time, assigning both “Buy” ratings with price targets of $175 and $12, respectively.
B. Riley noted that Bitcoin has declined over 45% from its October 2025 high of approximately $126,000 to roughly $69,000, causing the market capitalization premiums of both companies over their net asset values (NAV) to narrow and equity financing activity to slow. Strategy currently holds 738,731 BTC and trades at approximately 1.2x its modified NAV (mNAV), significantly below its 2024 peak multiple of 3.4x. Strive holds approximately 13,100 BTC and operates an asset management business managing roughly $2.5 billion, trading at approximately 0.9x its mNAV. Analysts believe the attractive preferred stock yields—ranging from 8% to 12.5%—could open new avenues for growth in digital credit financing.
