Strategy and Strive Buy Bitcoin, Strategy's Holdings Top 800,000

Strategy, a US-based investment firm, made headlines by purchasing 334 Bitcoin (BTC) in the week of October 1-4, at an average price of $85,839 per coin. The total value of the purchase is approximately $28.7 million. To fund the acquisition, Strategy sold 92,894 of its own shares (NASDAQ:MSTR) for $15.7 million and covered the remaining amount with $13 million in cash. This move brings Strategy's total Bitcoin holdings to 848,000 BTC, acquired for a total of $63.97 billion at an average price of $75,441 per coin.

Notably, smaller rival Strive (NASDAQ:ASST) bought six times as much Bitcoin as Strategy, acquiring 2,000 BTC between September 28 and October 2 at an average price of $84,422. This purchase brings Strive's total Bitcoin holdings to 29,462 BTC. According to CEO Matt Cole, 61.5% of the funds used for the purchase came from Strive's own preferred stock, SATA.

Strategy's third-quarter estimates include a digital-asset gain of $20.91 billion, a carrying value of holdings of $70.82 billion, and a deferred tax expense of $1.88 billion. In contrast, Strive's holdings of STRC (NASDAQ:STRC) shares worth $50.2 million and 505,000 shares of STRC are worth approximately $4.88 billion and $833.4 million, respectively.