Strategy Returns to Buying Bitcoin, Sends Rival Strive Soaring

Strategy's return to buying Bitcoin after a 10-week pause has sent shockwaves through the market, causing its rival Strive (NASDAQ:ASST) to surge 7% in Monday trading.

The move marks a significant shift in sentiment among corporate treasury names, with Strategy purchasing 4,603 Bitcoin for $369.7 million between August 24 and August 30 at an average price of $80,318 per coin.

This latest purchase brings Strategy's total holdings to 845,050 Bitcoin, breaking its 10-week streak without adding to its digital asset portfolio.

Strive, which has adopted Bitcoin as its hurdle rate for capital deployment and has a mechanism that makes it sensitive to shifts in confidence about corporate BTC accumulation, is climbing on the news despite no company-specific announcements.