Crypto Treasury Companies Boost Bitcoin Holdings Amid Rally
Publicly traded crypto treasury companies continue to deploy capital into digital assets. Strive (ASST) bought more Bitcoin than Michael Saylor's Strategy (MSTR) last week, adding 1,355 BTC for $107.7 million as its largest corporate holder of Bitcoin. Strategy returned to buying after a roughly two-week pause and purchased 950 BTC for $75.7 million at an average price of $79,670 per Bitcoin.
Strategy's latest purchase lifted its holdings to 846,000 BTC, while Strive's Bitcoin holdings rose to 26,355 BTC. Tom Lee-backed Bitmine Immersion Technologies (BMNR) also expanded its Ethereum treasury by adding 27,562 ETH over the past week and now holds 5.98 million ETH.
Strategy continued to buy back its STRC preferred stock, repurchasing 1.77 million shares for $174 million over the past week, using nearly half of its expanded $2 billion authorization for digital credit securities buybacks.