Former Republican Presidential Candidate and current Ohio state gubernatorial hopeful Vivek Ramaswamy’s Bitcoin (CRYPTO: BTC) treasury company is facing significant turbulence over the past couple of weeks, amid a downturn in the broader crypto ecosystem.
Asset management company, turned Bitcoin treasury play, Strive Inc. (NASDAQ:ASST) currently holds 7,525 BTC, and remains focused on replicating the same strategy followed by Strategy Inc. (NASDAQ:MSTR). Its Momentum score in Benzinga’s Edge Stock Rankings has plummeted over the past week.
Momentum Sours For Bitcoin Treasury Play
The Momentum score in Benzinga’s Edge Rankings is assessed based on the stock’s price movements and volatility across multiple time frames, before being ranked as a percentile against all other stocks.
See Also: Inside The Trump-Backed Bitcoin Empire: How Michael Ho Plans To Build America’s Largest Digital Gold Treasury
Strive Inc.
Strive’s Momentum score has witnessed a steep decline, from 75.16 to 17.2, within the span of a week, as the stock drops 26.93% over the past month.
This comes amid growing volatility and bearish sentiments on Bitcoin, alongside the company’s decision to raise $500 million via an at-the-money variable preferred stock offering, giving rise to concerns of dilution among existing shareholders.
The stock does poorly in Benzinga’s Edge Stock Rankings, with an unfavorable price trend in the short, medium and long terms. Click here to see how Strive compares against other crypto treasury companies, such as Strategy.
Read More:
Bitcoin Treasury Adoption Slows After Hitting A Peak In July: What’s Going On?
Photo courtesy: Maxim Elramsisy/Shutterstock
ASSTStrive Inc$0.7889-0.04%Overview$BTCBitcoin$86297.35-0.14%MSTRStrategy Inc$162.270.12%Market News and Data brought to you by Benzinga APIs
