Key facts
- Strive purchased 1,800 Bitcoin for $143 million at an average price of $79,431 per coin.
- The firm's total Bitcoin holdings now stand at 23,156 BTC.
- This acquisition positions Strive as the fifth-largest corporate Bitcoin treasury.
- Strive's stock, ASST, rose over 5% on Monday, extending a monthly rally.
- The Bitcoin were purchased using proceeds from SATA and ASST shares sold through at-the-market offerings.
Strive, a Bitcoin treasury firm linked to Vivek Ramaswamy, has significantly expanded its digital asset holdings by acquiring an additional 1,800 Bitcoin for $143 million. The purchase, made at an average price of $79,431 per coin between August 24 and 28, brings Strive's total Bitcoin reserves to 23,156 BTC, valued at approximately $1.769 billion. This move elevates Strive to the fifth-largest corporate Bitcoin treasury globally, surpassing crypto exchange Bullish. The firm funded this acquisition through proceeds from at-the-market offerings of its SATA and ASST shares. Concurrently, Strive's stock, ASST, experienced a notable surge, jumping over 5% on Monday and continuing a rally that has seen it gain more than 100% in the past month. CEO Matt Cole announced the purchase on X, highlighting a 5.8% boost in BTC yield over the preceding two weeks. The company remains committed to Bitcoin accumulation despite recent market volatility and hawkish comments from Federal Reserve Chair Kevin Warsh, which had previously impacted MSTR shares.