Strive Eyes More Bitcoin Purchases Amid Growing BTC Holdings
Strive Inc. (NASDAQ:ASST) CEO Matt Cole has hinted at the possibility of the company reporting more Bitcoin (BTC) purchases. In a recent post on X, Cole shared a chart showing that Strive holds 27,462 BTC, currently valued at $2.37 billion, making it the sixth-largest corporate holder of the cryptocurrency. This move is consistent with Strive's strategy of offering leveraged Bitcoin exposure through its common stock, funded by preferred equity.
Cole's post mirrored the approach of Michael Saylor and Strategy Inc. (NASDAQ:MSTR), which is known for posting its Bitcoin accumulation chart on Sundays, often preceding purchase disclosures the following Monday. Saylor has also referred to companies like Strive as allies, not rivals. This acquisition strategy is reminiscent of Strategy's own approach to accumulating BTC in its treasury.
Strive's shareholders approved a reverse merger with Vivek Ramaswamy's company last year, creating a public BTC treasury company. As of this writing, BTC is up 1.50% in the last 24 hours, and Strive shares are up 3.30% in Monday's pre-market trading. The company's shares closed 0.27% lower at $30.03 on Friday.