Strive has purchased another 1,800 Bitcoin worth approximately $143 million, continuing its aggressive cryptocurrency accumulation strategy and expanding one of the largest corporate Bitcoin treasuries.
CEO Matt Cole said Monday that Strive paid an average of $79,431 per Bitcoin for the latest purchase. The transaction brings the company’s total holdings to 23,156 BTC, valued at approximately $1.76 billion at the reference price cited in the disclosure.
Strive expands Bitcoin treasury strategy
The purchase follows Strive’s recent $81 million Bitcoin acquisition alongside a share sale. The company trades on the Nasdaq under the ticker ASST after merging with Asset Entities earlier this year.
Strive was initially co-founded by entrepreneur-turned-politician Vivek Ramaswamy. It is among a growing group of public companies that have adopted Bitcoin treasury strategies, raising capital to accumulate the asset and link their financial performance to its price.
The approach was pioneered by Michael Saylor’s Strategy and has attracted numerous imitators over the past year. However, corporate Bitcoin treasury strategies carry significant risk because of the cryptocurrency’s volatility.
Corporate crypto buying resumes
Strive’s latest purchase comes amid renewed buying across the sector as Bitcoin has rallied. Strategy ended an approximately two-month pause with a $370 million Bitcoin purchase this week, its first since June, after a market recovery pushed its position back into profit.
Tom Lee’s Bitmine also made its largest Ethereum purchase since June, highlighting how crypto treasury companies have resumed accumulation as prices recovered.
Bitcoin traded at around $78,600 on Monday, slightly lower on the day but on track to finish August with a gain of more than 24%, which would make it the cryptocurrency’s strongest month since 2017.
Strive’s average purchase price for the latest tranche is slightly above current market levels, leaving the new Bitcoin investment roughly at break-even for now.
