Strive Buys $81.5M Worth of Bitcoin, Boosts Holdings to 21,356 BTC
Strive, a company that operates a Bitcoin treasury strategy alongside an asset management business, has purchased 1,110 BTC for approximately $81.5 million. This purchase brings Strive's total holdings to 21,356 BTC.
The company paid an average of $73,409 per Bitcoin, including fees and expenses, over the period from August 17 to August 21. This price is lower than the current market value of Bitcoin, which was trading near $79,000 on Monday.
Strive's Class A shares outstanding increased by 3.65 million to 79.89 million during this period, while its cash and cash equivalents rose by $17.1 million to $171.9 million.
The purchase has lifted Strive to the seventh-largest publicly traded corporate BTC holder, according to BitcoinTreasuries.NET data. CEO Matt Cole said that 'The upside is not simply Bitcoin going higher. It is Bitcoin becoming the fastest horse inside an expanding scarcity trade while $ASST is structured to amplify that outcome as much as we can responsibly support.'