Strive Doubles Down on Bitcoin with $132 Million Acquisition
Strive, a company that has been making headlines in recent months due to its significant Bitcoin purchases, has announced another large acquisition. On September 28th, Strive purchased 1,665 BTC, adding to its existing holdings of 846,000 BTC as of September 21st. This purchase is in addition to the 950 BTC acquired by Strive at an average price of $79,670.
The company's latest acquisition brings its total Bitcoin holdings to a significant amount and has sparked interest among market participants who are examining whether lower exchange-held balances reflect a lasting reduction in available supply. However, it is essential to note that corporate buying may not be the sole cause of any movement in exchange balances.
Matthew Cole, Strive's chairman and CEO, stated, 'Today, Strive stands debt-free, with zero margin requirements, and zero encumbered Bitcoin.'