Strive Boosts Bitcoin Holdings with $87 Million Purchase

Strive, an asset manager co-founded in 2022 by Vivek Ramaswamy, has significantly boosted its Bitcoin holdings. Last week, Strive purchased 1,110 BTC, worth around $87.5 million, while also issuing more shares to fund its treasury strategy.

The new shares meant that Strive's Bitcoin per fully diluted share, a measure of how much Bitcoin corresponds to each share, rose by only about 1.4%. However, the company's total Bitcoin holdings increased by 5.5% between August 17 and August 21.

Strive paid an average price of $73,409 per Bitcoin, including fees and expenses, according to a recent filing with the Securities and Exchange Commission. The purchases lifted its holdings from 20,246 BTC to 21,356 BTC, worth around $1.7 billion.