Investment bank B. Riley assigned Strategy Inc. (NASDAQ:MSTR) and Strive, Inc. (NASDAQ:ASST) Buy ratings and price targets of $175 and $12, respectively.
Strategy spent a whopping $1.28 billion to buy 17,994 more bitcoin last week, raising its total holdings to 738,731 BTC worth about $50 billion at current prices.
Strategy (MSTR) surged on Wall Street after bitcoin’s rally, despite holding the largest short interest — about 14% of its $41.6 B market cap — among $25 B+ global equities.
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Michael Saylor defended Strategy’s bitcoin-buying strategy on CNBC’s Squawk Box today, brushing off fears the company could be forced to sell Bitcoin in a prolonged downturn.
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