B. Riley Initiates Buy Rating for MicroStrategy and Strive Amidst Bitcoin Market Recovery
London, United Kingdom – March 11, 2026 – Investment bank B. Riley has initiated coverage of two prominent companies with significant Bitcoin holdings, MicroStrategy (MSTR) and Strive (ASST), with “Buy” ratings, signaling a bullish outlook despite recent volatility in the cryptocurrency market. The move comes as Bitcoin attempts to stabilize following a substantial drawdown from its October 2025 peak, and analysts believe the current valuations present a compelling buying opportunity. B. Riley’s assessment centers on the unique positions of both companies as key players in the emerging landscape of Bitcoin treasury strategies and digital credit platforms.
The firm’s analyst, Fedor Shabalin, initiated the coverage, assigning a $175 price target for MicroStrategy and a $12 target for Strive. This optimistic outlook is based on the belief that the recent market correction has compressed valuations, creating an attractive entry point for investors. B. Riley’s decision to focus on these two companies highlights a growing interest on Wall Street in the potential of Bitcoin treasury stocks, particularly as institutional adoption of the cryptocurrency continues to evolve. The analyst who previously accurately predicted the rise of NVIDIA in 2010 is now highlighting these two companies as key opportunities in the digital asset space.
MicroStrategy: Dominance in Bitcoin Holdings
MicroStrategy, currently the largest corporate holder of Bitcoin, holds 738,731 BTC as of March 8, 2026, according to B. Riley’s report and confirmed by recent company activity. The company recently added 17,994 Bitcoin to its holdings between March 2nd and 8th, further solidifying its position as a leading advocate for Bitcoin as a store of value. This recent purchase was made at a total cost of approximately $1.28 billion, averaging $70,946 per coin. B. Riley emphasizes MicroStrategy’s “unmatched scale and structural dominance” as key factors driving its positive outlook. The firm also points to MicroStrategy’s development of a diversified digital credit platform spanning six separate securities as a significant advantage.
Currently, MicroStrategy’s stock is trading at approximately 1.2x its Net Asset Value (NAV), a considerable decrease from its 2024 high of around 3.4x. B. Riley believes this compression in valuation represents a significant opportunity for investors. The firm anticipates potential structural tailwinds from pro-crypto regulation could further boost MicroStrategy’s prospects. The company’s innovative products, such as Mosaic Sentinel – designed for data governance and cost monitoring – and Cloud Cost Arbitrage, which optimizes cloud resource costs, also contribute to its overall value proposition.
Strive: A Dual-Engine Model
Strive, Inc. (ASST) is also receiving positive attention from B. Riley, with the firm recognizing its “dual-engine model” combining asset management with a Bitcoin treasury. The company’s stock is currently trading at a discount to its underlying value, making it an attractive investment according to the analysis. B. Riley’s $12 price target suggests significant upside potential from its current trading price of $8.51 (as of March 10, 2026). The firm’s report highlights Strive’s ability to leverage its asset management capabilities alongside its Bitcoin holdings to drive growth.
The recent Bitcoin market downturn, which saw the cryptocurrency fall over 45% from approximately $126,000 in October 2025 to around $69,000 in early March 2026, has impacted both MicroStrategy and Strive. This decline has slowed equity issuance, which had previously fueled Bitcoin accumulation for these companies. However, B. Riley argues that this correction has reset valuations and opened the door for latest digital credit financing models that could revive growth. The bank believes preferred-share financing and diversified business lines will be crucial for Strive’s next phase of expansion.
Market Context and Analyst Rationale
The broader market context for these ratings is a period of increased scrutiny and volatility in the cryptocurrency sector. Bitcoin’s price fluctuations have directly impacted companies holding significant Bitcoin reserves, leading to declines in their stock prices. However, B. Riley’s analysis suggests that this downturn is temporary and that the long-term fundamentals of these companies remain strong. The firm’s constructive view is rooted in the belief that Bitcoin will continue to gain acceptance as a legitimate asset class, driving demand and ultimately benefiting companies like MicroStrategy and Strive.
B. Riley’s initiation of coverage on these two companies marks a significant step in the mainstream acceptance of Bitcoin treasury strategies. The firm’s analysis suggests that investors should view the current market conditions as an opportunity to acquire shares in these companies at attractive valuations. The potential for regulatory clarity and increased institutional adoption of Bitcoin further supports this optimistic outlook. MicroStrategy Executive Chairman Michael Saylor’s continued commitment to Bitcoin, demonstrated by the recent substantial purchase, also reinforces the company’s long-term strategy.
Looking Ahead
In the coming quarters, investor attention will likely focus on several key factors, including further Bitcoin acquisitions by MicroStrategy and Strive, developments in their respective NAVs, and any significant regulatory signals from governments around the world. Company earnings reports, product updates related to Mosaic Sentinel and Cloud Cost Arbitrage, and participation in capital market conferences will also serve as potential catalysts for stock price movements. The evolving regulatory landscape surrounding cryptocurrencies will be particularly important to monitor, as favorable regulations could provide a significant boost to the sector.
The current market environment presents both opportunities and risks for investors in Bitcoin treasury stocks. While the potential for significant gains is present, volatility and regulatory uncertainty remain key concerns. B. Riley’s “Buy” ratings on MicroStrategy and Strive suggest that the firm believes the potential rewards outweigh the risks, but investors should conduct their own due diligence and carefully consider their risk tolerance before making any investment decisions.
Key Takeaways:
- B. Riley initiated “Buy” ratings for MicroStrategy (MSTR) and Strive (ASST) despite recent Bitcoin market volatility.
- MicroStrategy, holding 738,731 BTC, is considered the dominant player in the Bitcoin treasury space.
- Strive’s dual-engine model, combining asset management and Bitcoin holdings, is seen as a key strength.
- The recent market correction has compressed valuations, creating a potential buying opportunity for investors.
Investors will be closely watching for further developments in Bitcoin’s price, regulatory changes, and the companies’ quarterly earnings reports. Stay tuned to World Today Journal for continued coverage of the evolving cryptocurrency landscape and its impact on global markets.
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