Strive Stock Soars After Record Bitcoin Buy

Strive Stock Surges After Massive Bitcoin Buy

Dallas-based asset manager Strive, Inc. recently made its largest single-week purchase of bitcoin in months, buying 1,110 coins at an average price of around $73,409 per bitcoin, including fees and expenses. This brought the company's total holdings to 21,356 coins.

The acquisition, which was funded with proceeds from at-the-market offerings of Strive's ASST and SATA shares, lifted the company's stock (Nasdaq: ASST) by over 7% on Monday. Strive now ranks as the seventh-largest public corporate holder of bitcoin, behind Strategy's 840,447 coins.

Strive's chief executive, Matt Cole, recently expressed his conviction that the bitcoin bear market has ended, citing breakouts against both the dollar and gold.