Key facts
- Strive acquired 1,800 Bitcoin for approximately $143 million.
- Strive's total Bitcoin holdings now amount to 23,156 BTC.
- The company is now the fifth-largest corporate Bitcoin treasury.
- Strive's stock saw a more than 5% increase following the acquisition.
- The purchase occurred as other firms like Strategy and Bitmine also increased their crypto holdings.
Strive has significantly expanded its Bitcoin holdings, acquiring 1,800 BTC for approximately $143 million at an average price of $79,431 per coin. This strategic purchase elevates the company to become the fifth-largest corporate treasury holding Bitcoin, with a total of 23,156 BTC, valued at roughly $1.76 billion. The acquisition follows an aggressive accumulation strategy by the firm, which trades as ASST on the Nasdaq after merging with Asset Entities. Strive's stock surged over 5% following the announcement. The purchase occurs amid renewed buying interest in the cryptocurrency sector, with Strategy breaking a two-month pause to purchase $370 million in Bitcoin and Bitmine making its largest Ethereum buy since June. Bitcoin traded around $78,600 on Monday, on track for its strongest August since 2017.