Strive Rockets into Fifth Place Among Publicly Traded Crypto Treasuries
Strive's stock surged on Monday after the company announced a $143 million Bitcoin purchase, making it the fifth-largest publicly traded crypto treasury.
The Dallas-based firm acquired 1,800 Bitcoins between August 24 and August 28 for an average price of $79,431 per coin. This latest buy has added to Strive's existing holdings of 21,356 coins, now valued at over $1.8 billion at today's prices.
The company's stock (NASDAQ: ASST) was trading 9% higher around 12:30 pm in New York, with a year-to-date rise of nearly 40%. Strive's Bitcoin yield, which compares growth in Bitcoin holdings relative to share count, reached 40.8% as of its August 28 filing.
Strive is now the fifth-largest Bitcoin treasury behind Strategy, Twenty One, Metaplanet, and MARA. The company's unique business model allows investors to gain amplified returns from Strive's stock by buying Bitcoin with equity while maintaining a debt-free balance sheet.