Strive surpasses Metaplanet at $2.32 billion market cap despite smaller BTC treasury

Sep 8, 2026 15:27 (47d ago)

Strive surpassed Metaplanet in equity market capitalization, with $2.32 billion versus $2.10 billion.
Strive held 24,531 BTC worth about $1.9 billion, compared with Metaplanet's roughly 43,000 BTC worth about $3.4 billion.
More than $700 million of Strive warrants can be exercised above $27 before mid-October, potentially supporting further Bitcoin purchases and preferred issuance.

Strive (ASST) surpassed Metaplanet in equity market capitalization, closing at $27.16 with a $2.32 billion valuation versus Metaplanet's $2.10 billion, despite holding about 43% less Bitcoin. Strive's 24,531 BTC was worth approximately $1.9 billion, implying about 1.2 times net asset value (NAV), while Metaplanet's roughly 43,000 BTC was worth about $3.4 billion against an equity value of $2.10 billion, or about 0.6 times NAV. Strive's premium reflects rapid treasury expansion funded through common-stock, SATA preferred-stock and potentially warrant issuance, while Metaplanet's valuation was pressured by share issuance and changes to its potential-share pool.

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