B. Riley assigns a buy rating to Strategy and Strive, with target prices of $175 and $12 respectively.

Odaily Planet Daily reports that investment bank B. Riley has initiated coverage on Bitcoin treasury companies Strategy and Strive, both receiving a buy rating, with target prices of $175 and $12, respectively.

The report states that the Bitcoin treasury sector experienced a decline after Bitcoin prices fell from approximately $126,000 in October 2025 to around $69,000 in early March 2026. Market valuations were reset, slowing equity issuance but also creating opportunities for new digital credit financing models, which could help the sector recover.

As of press time, Strategy’s stock price is $141.82, holding 738,731 Bitcoin; Strive’s stock price is $8.67, with about 13,100 Bitcoin assets and an asset management scale of approximately $2.5 billion. Last week, Strategy made a large purchase of 17,994 Bitcoin, totaling about $1.28 billion at an average price of $70,946 per Bitcoin.

Analysts note that Strategy has built a “digital credit platform,” combining common stock with five series of perpetual preferred shares (yielding 8%–11.5%), with cash reserves of about $2.25 billion. Its current stock price is roughly 1.2 times its modified net asset value (mNAV), well below the high of about 3.4 times in 2024, offering an attractive buying opportunity. Strive attracts investors with low leverage, approximately 12.5% preferred share yields, and a discounted valuation (around 0.9x mNAV).

The report adds that the preferred shares issued by both companies offer yields higher than many traditional fixed-income instruments, potentially attracting income-seeking investors. (CoinDesk)