Strive Doubles Down on Bitcoin with $83M Purchase

Strive Asset Management has made its second significant Bitcoin purchase in recent months. The company acquired an additional 1,110 BTC for $81.5 million at an average price of $73,409 per unit. This purchase was completed in tranches over several weeks, with some units bought between August 3 and 7 at an average price of just over $64,800.

The rest were accumulated as Bitcoin's price rose to almost $80,000 last Friday. With this purchase, Strive now holds a total of 21,356 BTC, surpassing its previous holding of 15,009 units. This significant increase in holdings makes Strive one of the largest corporate holders of Bitcoin.

Interestingly, unlike Strive, Strategy, which is currently the world's largest corporate holder of Bitcoin, has remained on the sidelines for almost two months, making no new BTC purchases. Instead, it has focused on rebuilding its USD reserve, which now stands at over $6.5 billion after recent initiatives.