Bitcoin treasury firm Strive purchased 3,311 BTC for approximately $280 million between October 5 and October 9, increasing its total holdings to 32,773 BTC. The acquisition marks another expansion of the company’s corporate Bitcoin reserves and pushes its treasury above 30,000 BTC for the first time.
Strive's continued expansion of its Bitcoin treasury demonstrates ongoing institutional adoption of the cryptocurrency as a corporate reserve asset, potentially influencing other companies to follow suit.
Bitcoin treasury company Strive expanded its corporate reserves by purchasing 3,311 BTC for approximately $280 million in the week ending Oct. 9. The acquisition, at an average price of about $84,500 per coin, brought Strive's total Bitcoin holdings to 32,773 BTC, making it the fifth-largest publicly traded corporate Bitcoin holder. Investors exercised $208 million in warrants, contributing to the company's capital. Strive's Bitcoin reserves grew 11.2% during the reporting period, outpacing a 9.4% increase in its effective common share count. Michael Saylor, CEO of MicroStrategy, praised Strive's strategy of using equity financing to acquire Bitcoin.
Pick the topics you care about. Get only what matters, on your cadence.