Strive Drops $83M on 1,110 BTC Amid Bitcoin Price Surge

Strive, a Bitcoin treasury company and asset manager, has spent $83 million acquiring an additional 1,110 BTC. This purchase brings its total holdings to over 21,000 units.

The firm's CEO, Matt Cole, announced the acquisition on Twitter. The purchases were made in tranches, with some of them completed at an average price of just over $64,800 per unit. Strive bought 147 BTC between August 3 and 7, followed by another 79 BTC a week later.

The company's total holdings have increased significantly since May 12, when it held 15,009 BTC. The recent purchases were made as Bitcoin's price appreciated to almost $80,000 last Friday. Unlike Strive, Strategy, the world's largest corporate holder of cryptocurrency, has remained on the sidelines for almost two months.