Strive Sees 11% Stock Surge After $81.5M Bitcoin Buy

Strive Inc., the parent company of the Strive (ASST) stock, has made another significant move in its Bitcoin acquisition strategy. The company recently purchased 1,110 BTC for $81.5 million, bringing its total holdings to 21,356 BTC and making it the seventh-largest corporate holder globally.

The average cost per BTC was $73,409, with the purchase taking place between August 17th and 21st. This acquisition has contributed to a surge in Strive's stock price, with shares rising over 11% on Monday.

Strive's CEO, Matt Cole, expressed confidence in Bitcoin's future, stating that he believes the bear market has concluded. He pointed out that Bitcoin's recent upward momentum against both the US dollar and gold is a positive indicator for the cryptocurrency.