Strive Inc (NASDAQ:ASST) has experienced a significant increase in stock value, reaching $10.86 after a 13.96% surge on Monday afternoon. This rise is largely due to the recent surge of Bitcoin above $74,000, which is seen as a key level that tends to boost companies with direct crypto exposure.
Strive's business model focuses on using Bitcoin as its capital-allocation hurdle rate and growing Bitcoin per share over time. Its asset-management subsidiary oversees more than $2.5 billion in assets, providing the company with an operating business alongside its treasury strategy.
The rise in Bitcoin price has a direct impact on Strive's value, as it increases the worth of the company's Bitcoin holdings. A stronger market also supports confidence in Strive's strategy, making its approach look more attractive and sustainable.