Strive Acquires 1,110 BTC for $81.5M, Surges 11% on ASST Shares

Strive has acquired a significant amount of Bitcoin, purchasing 1,110 BTC for approximately $81.5 million last week. This purchase brings their total holdings to 21,356 BTC.

The average price paid per Bitcoin was around $73,409, including fees and expenses, over the period from August 17th to 21st. In contrast, Bitcoin's current trading price is near $79,000, which is about an 8% increase above what Strive paid for their latest purchase.

This acquisition has propelled Strive to the seventh-largest publicly traded corporate BTC holder, according to data from BitcoinTreasuries.NET. The company's Nasdaq-traded ASST shares have surged more than 11% in Monday morning trading, with year-to-date gains nearing 36%, as reported by Yahoo Finance.

In a statement on social media platform X, CEO Matt Cole noted that the upside of this investment is not solely dependent on Bitcoin's price increase. Instead, it is tied to Bitcoin becoming the fastest horse within an expanding scarcity trade, which can be amplified through Strive's asset management business and its structured products.