Bitcoin's August Rally Lifted Nearly Every Crypto Stock – Except This One

ASST stock has nearly doubled so far this month, while MSTR shares have gained around 30%.

• Bitcoin’s move above $80,000 earlier in August has helped lift many crypto-linked equities.
• While ASST shares outperformed the market, GME stock has fallen more than 17% so far in August.
• GameStop pledged nearly all of its Bitcoin holdings as collateral for covered-call options, limiting its direct exposure to further Bitcoin gains.

Strive (ASST) shares are on track to nearly double this month, outpacing other crypto-linked equities, including the largest Bitcoin (BTC) treasury Strategy (MSTR), after BTC’s August rally lifted the apex cryptocurrency from around $60,000 to over $80,000.

ASST stock rose over 3% in early morning trade, having logged a jump of over 95% in August so far. Retail sentiment around the Bitcoin treasury trended in the ‘extremely bullish’ zone over the past week, accompanied by chatter at ‘extremely high’ levels. 

Other crypto-linked stocks also posted strong gains during Bitcoin’s August rally. Bullish (BLSH) clocked the second-strongest gains, rallying over 50% in August so far. Twenty One Capital (XXI) and USDC stablecoin issuer Circle (CRCL) both rose around 40% each. Meanwhile, Ethereum (ETH) treasuries Bitmine Immersion Technologies (BMNR) and Sharplink Gaming (SBET) rose over 30% each.