MicroStrategy and Strive Fuel Bitcoin Rally with $183 Million Purchase
Bitcoin prices have staged a strong rebound to $85,000, marking a new high since January and representing a nearly 30% recovery from the August lows. MicroStrategy (MSTR.US) and Strive (ASST.US) collectively spent $183 million purchasing Bitcoin last week, constituting the most significant move in current corporate asset allocation.
This acquisition not only signals aggressive positioning by both institutions following the price correction but also reasserts the market dominance of leading players amid a broader slowdown in corporate Bitcoin purchases. As BTC prices breach key psychological thresholds, corporate balance sheets previously under pressure from declining prices are finding an opportunity for repair.
MicroStrategy (MSTR.US) purchased 950 BTC between September 14 and 20 at an average price of $79,670 per coin, totaling $75.7 million. This operation brought its total holdings back to 846,000 BTC, with a cumulative total cost of $63.8 billion and an average holding cost of $75,416.
Strive (ASST.US) purchased 1,355 BTC between September 14 and 18 at an average price of $79,475 per coin, spending $107.7 million and bringing its total holdings to 26,355 BTC. Notably, Strive's cash and equivalents rose to $229.6 million during the same period, indicating asset expansion while maintaining liquidity.