Strive (ASST) Stock Looks Overvalued After Its 70% Run

Strive has rallied hard in 2026, with the stock up 69.5% year to date, which puts a fresh spotlight on whether that higher share price is still anchored to the company’s book value. With investors also watching its bitcoin accumulation activity, the question now is how much of that story is already reflected in the balance sheet that underpins the valuation.

• The 69.5% year to date gain raises the stakes for anyone asking whether the current valuation is still grounded in what Strive’s net assets are worth on paper.
• Strive has recently been in the news for adding more bitcoin than Strategy, and that kind of balance sheet exposure can reshape the mix between hard assets, financial risk and the book value backing each share.
• There is a second opinion on Strive worth weighing. See what analysts think Strive's shares could be worth.

The issue now is whether Strive’s recent share price level is adequately supported by the book value behind the stock.

If you are weighing Strive against other ways to play this theme, a focused starting point is a curated list of 19 cryptocurrency and blockchain stocks.

Does Strive Look Pricey on Book Value?

P/B is a natural fit for Strive because so much of the debate centers on the value of assets sitting on its balance sheet, including bitcoin holdings. Strive currently trades on a P/B of 3.9x, which is above the broader medical equipment group on 2.6x and below the peer set closer to 8.5x. That puts the stock in an in between zone, where the market is clearly asking investors to pay more than the sector average for each dollar of net assets, but not as much as for some of the more aggressively priced peers.

Because Strive has recently added more bitcoin than Strategy, the higher P/B appears to reflect expectations that this asset-heavy approach will justify a premium to the industry benchmark over time. Relative to the sector average, the shares screen as more expensive on book value alone, with the market already incorporating a meaningful uplift from the balance sheet mix. Explore the numbers behind Strive's P/B valuation.

The Strive Narrative: What Would Justify Today's Price?

Simply Wall St Narratives for Strive pick up where the book value puzzle leaves off. They spell out which paths for growth, profitability and earnings would need to play out for the stock to be worth meaningfully more or less than today’s price. Each one ties its number to a concrete view on how Strive's expansion, margins and risk profile could evolve, providing a reference you can return to as fresh data comes through on the Community page.

A written, number driven view on Strive gives you a fixed reference point for how bitcoin accumulation and book value assumptions tie into today's price so you can see exactly which levers need to move for the current P/B to keep making sense. It also creates a simple scorecard you can revisit as new data comes in, including whether Strive's recent pace of bitcoin purchases relative to Strategy ends up supporting or challenging those original assumptions.

Share your own Narrative for Strive and set out the assumptions behind your valuation.

One last check on Strive that sits beyond the share price

Before you stop at book value and bitcoin exposure, it is worth asking who is steering Strive and how their incentives line up with your interests as a shareholder. See who runs Strive and how they are paid.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com