ASST Has a Strong Buy Rating and No Path to Profitability for 3 Years. Buy It Anyway?

1 week ago 8

Omor Ibne Ehsan

Tue, April 28, 2026 astatine 10:32 AM CDT 5 min read

Quick Read

Strive (ASST) holds 10,900 BTC aft acquiring Semler Scientific, backing accumulation done $762.6M successful PIPE financing and warrant exercises successful Q3 2025, with Q4 output of 22% contempt a $424.9M nett nonaccomplishment driven mostly by mark-to-market write-downs connected Bitcoin holdings. MicroStrategy (MSTR) operates connected a akin Bitcoin treasury model, and spot Bitcoin ETFs connection nonstop vulnerability without the operating losses and dilution risks of holding ASST.
Strive’s concern exemplary depends connected maintaining a premium to nett plus worth truthful it tin continuously contented equity to bargain Bitcoin, creating a leveraged stake connected Bitcoin appreciation alternatively than a cardinal plus absorption business.
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Wall Street's mathematics connected Srive (NASDAQ:ASST) looks brutal connected paper. The institution posted $5.7 cardinal successful gross against a nett nonaccomplishment of $424.9 cardinal implicit the past 12 months, with operating margins moving astatine negative. And yet, contempt a Q4 people that missed statement massively, the banal carries a Strong Buy rating.

The bullish telephone rests connected 4 Buys, zero Holds, and zero Sells, an expert people of $23.5 against a caller terms adjacent $15. The standing is little brainsick than it sounds, though it mightiness inactive beryllium precisely that crazy.

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The Anti-BlackRock Pivot

The ticker ASST utilized to beryllium to a tiny societal media selling outfit moving Discord servers and TikTok promotions. Last September it reverse merged into Strive Enterprises, the plus manager founded by Vivek Ramaswamy to propulsion "excellence capitalism" implicit ESG. Strive sells itself arsenic the anti-BlackRock. The transportation is that money managers should ballot shares to maximize returns alternatively than beforehand governmental agendas.

That is the nationalist face. The existent concern is thing else. Strive runs astir $2 cardinal successful plus absorption AUM portion operating, successful practice, arsenic a Bitcoin treasury institution successful the MicroStrategy (NASDAQ:MSTR) mold. As of November 7, 2025, Strive held 7,525 BTC. After absorbing Semler Scientific (NASDAQ:SMLR) that quarter, the combined entity sat connected implicit 10,900 BTC. The plus manager is the storefront. Bitcoin accumulation is the product.

How the Strong Buy Math Works

Analysts standing ASST are pricing Bitcoin per stock and the financing instrumentality that keeps the stack growing. In Q3 2025 Strive raised $762.6 cardinal done PIPE financing and warrant exercises and enactment astir of it into Bitcoin astatine a outgo of $683 million. The SATA perpetual preferred stock, paying a 12% dividend, raised different $257.6 cardinal crossed 2 tranches.

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