Strive Doubles Down on Bitcoin with $81.5M Purchase, Boosting Holdings to 21,356 BTC

Strive has significantly expanded its Bitcoin holdings after purchasing 1,110 BTC for approximately $81.5 million last week. This purchase brings Strive's total holdings to 21,356 BTC, making it one of the largest corporate holders of Bitcoin in the market.

The company paid an average price of $73,409 per Bitcoin (BTC), including fees and expenses, for purchases made between August 17th and August 21st. This is lower than the current trading price of BTC, which was 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 company's Nasdaq-traded ASST shares surged more than 11% in Monday morning trading.

Strive operates a Bitcoin treasury strategy alongside an asset management business that manages nearly $3 billion across exchange-traded funds and a direct-indexing platform. According to CEO Matt Cole, the upside of investing in Bitcoin is not just about its price increase but also about its potential to become a leading store of value within an expanding scarcity trade.

Strive's SATA returns to its targeted trading range after falling as low as $83.30 in late June. The company had narrowed the range from $95-$105 to $99-$101 in March and stated it would not issue SATA below $100.