Strive Surges Past Bullish to Become Fifth-Largest Corporate Bitcoin Holder

Strive (NASDAQ: ASST) has surged past Bullish (NYSE: BLSH) to become the fifth-largest corporate holder of Bitcoin, according to recent data from Bitcointreasuries.net. The Dallas-based asset manager accumulated a total of 23,156 BTC worth approximately $1.8 billion as of August 31.

This significant jump in holdings has allowed Strive to leapfrog Bullish, which had previously held the fifth spot. Notably, Bullish's Bitcoin stash is now declining.

Strive's continued accumulation of Bitcoin has been fueled by its equity issuance of common and preferred stock (ASST and SATA), with the variable-rate perpetual preferred paying a 13% annualized dividend every business day.

The company's cash reserves rose to $171.9 million following the sale of its common and preferred stock, which resulted in an $81.5 million gain over the August 17-21 period.