Strive Boosts Holdings with $107.7M Bitcoin Buy

Strive, led by Chairman and CEO Matt Cole, has made another significant purchase of Bitcoin. This time, they acquired 1,355 units for $107.7 million, increasing their total holdings to 26,355 BTC. The average cost per unit was approximately $79,500, just below the price at which they bought it.

The company's strategy involves using non-dilutive preferred equity financing instead of traditional debt to fund its purchases. This approach has allowed Strive to accumulate a substantial amount of Bitcoin over time.

Bitcoin's recent surge past $85,000 in value may be contributing to the increased demand for the cryptocurrency. The price has risen by $10,000 in less than a week, following a dip to $75,000 after a failed Senate vote and a Federal Reserve rate hike.