Investment bank B. Riley has initiated coverage of bitcoin treasury firms Strategy (MSTR) and Strive (ASST), setting price targets of $175 and $12 respectively. The sector was pressured after bitcoin fell more than 45% from about $126,000 in October 2025 to roughly $69,000 early in 2026. This has led to a decrease in market-to-NAV premiums and decreased the equity issuance fueling bitcoin accumulation. Strategy remains the largest bitcoin treasury company, holding 738,731 BTC. Strive combines a bitcoin treasury of about 13,100 BTC with an asset-management business overseeing roughly $2.5 billion.