Key facts
- Strive purchased 1,800 Bitcoin at an average price of $79,431 per coin.
- Strive's total Bitcoin holdings now stand at 23,156 BTC.
- Michael Saylor's Strategy acquired 4,603 Bitcoin for $370 million.
- Strategy's total Bitcoin holdings are 845,050 BTC.
- Cronos halted its network after a decentralized lending protocol Tectonic was exploited.
- The Tectonic exploit is estimated to have involved $75 million.
In the cryptocurrency market, asset manager Strive has significantly increased its Bitcoin holdings, acquiring 1,800 BTC for approximately $143 million. This purchase elevates Strive to become the fifth-largest publicly traded corporate holder of Bitcoin, with total holdings reaching 23,156 BTC. The acquisition was made at an average price of $79,431 per coin, following a previous purchase of 1,110 BTC the week prior.
Meanwhile, Michael Saylor's Strategy, the largest corporate Bitcoin holder, has resumed its acquisition strategy after a two-month pause. The company purchased 4,603 Bitcoin for $370 million, bringing its total holdings to 845,050 BTC. This acquisition was funded by proceeds from a stock sale and also used for preferred stock repurchases.
In a separate development, the Cronos blockchain has been halted following a security exploit targeting the decentralized lending protocol Tectonic. The exploit is estimated to have involved around $75 million, with most of the funds remaining on the Cronos network. Researcher Weilin Li identified the attacker exploited TECTONIC's collateral factor and thin liquidity to borrow other assets. Crypto.com CEO Kris Marszalek confirmed that the company's app and exchange were unaffected.