Bitcoin Treasuries Strive and Strategy Deploy $513 Million in Coordinated Purchases

Strive and Strategy, two prominent publicly traded corporate holders of Bitcoin, deployed $513 million into BTC over five trading days in mid-August. The purchases were made at nearly identical prices, with Strive buying 1,800 BTC for around $143 million at an average price of $79,431, and Strategy acquiring 4,603 BTC for approximately $370 million at an average price near $80,380.

This is not a coincidence, as both companies were buying into the same institutional-driven rally. The market was pricing in lower odds of further Fed rate hikes, which contributed to the rally that put Bitcoin above $80,000.

Strive's pace has accelerated significantly over the past month, with its purchases increasing by more than an order of magnitude between July 20 and August 24. This is notable because Strive has been buying BTC at every price point throughout the year, regardless of market conditions.

The financing behind these purchases is also noteworthy. Strive funded its $143 million purchase by issuing new Class A shares and SATA perpetual preferred stock, which increased its cash position and allowed it to maintain a stable share count despite the large investment in BTC.