Strive Ramps Up BTC Holdings as Strategy's Pause Raises Concerns
Bitcoin's price trajectory is being closely watched by investors and analysts, particularly in light of recent developments in corporate treasury strategies. Michael Saylor's company has made only one Bitcoin purchase in nearly three months, while Matt Cole's Strive added 469 BTC this week to take its treasury to exactly 25,000 coins.
The gap between the two companies' approaches is widening, with Strategy holding 845,050 BTC at an average cost of $75,412 per coin. The company has deployed over $63.7 billion across six years to build its position, which now sits roughly $2 billion above cost, but this cushion is thin given the current spot price near $77,900.
Claude AI predicts that Bitcoin will spend the rest of 2026 range-bound between roughly $65,000 and $95,000, with the upper half of that range more likely into Q1 2027. The reasoning behind this prediction is structural, as the marginal buyer driving the last cycle, leveraged corporate treasuries, is stepping back.
A sustained break below Strategy's cost basis of $75,412 could trigger a narrative that the model is broken and accelerate downside toward $65,000. Strive's continued accumulation of BTC through its SATA instrument has raised questions about whether Saylor's pause reflects a view on price or a constraint on raising capital.