State Street Boosts Investment in Vivek Ramaswamy’s Strive as Bitcoin Holdings Surge

State Street Corporation has significantly expanded its investment in Vivek Ramaswamy’s Strive Asset Management (NASDAQ: ASST), signaling growing institutional confidence in Bitcoin treasury companies. The global asset management giant, which oversees nearly $5.6 trillion in assets, disclosed the purchase of 1 million shares of Strive stock valued at approximately $17.7 million.

The latest acquisition increased State Street’s exposure to Strive by nearly 770%, bringing its total stake close to $20 million at current market prices. The investment comes amid rising institutional interest in firms with large Bitcoin reserves. Earlier, Vanguard Group also revealed a sizeable position in Strive, further strengthening market confidence in the company.

Following the announcement, ASST stock climbed 0.34% during premarket trading. The stock had already posted a strong 5.07% gain on May 20, closing at $16.98. Analysts continue to remain bullish on Strive’s future, with TD Cowen raising its price target to $30 and H.C. Wainwright increasing its target to $38 due to the company’s aggressive Bitcoin accumulation strategy.

Strive recently introduced daily dividend payments through its SATA preferred stock program. The company stated that capital generated from the program is being directed toward additional Bitcoin purchases, reinforcing its crypto-focused treasury strategy.

The firm also disclosed that it purchased 381.61 BTC between May 13 and May 18 at an average price of around $79,348 per Bitcoin, excluding fees. As a result, Strive now holds 15,391 BTC, making it the ninth-largest publicly traded corporate Bitcoin holder globally.

In addition to its Bitcoin reserves, Strive reported holding approximately $87.3 million in cash and cash equivalents as of May 18. The company also owns nearly $49.8 million in Variable Rate Series A Preferred Stock issued by Strategy, further strengthening its financial position as institutional demand for Bitcoin-related investments continues to rise.