TheBlock
Strive (ASST) acquired 1,110 BTC for approximately $81.5 million between Aug. 17 and Aug. 21, according to an SEC 8-K filing. The purchase averaged $73,409 per coin including fees and expenses, lifting Strive's holdings to 21,356 BTC from 20,246, a roughly 5.5% increase. Bitcoin closed Friday at $77,387 after rising nearly 25% last week and traded near $80,000 on Monday.
Why it matters
Bitcoin Treasuries ranks Strive as the seventh-largest public company holder of Bitcoin. Strategy leads with 840,447 BTC, followed by Twenty One Capital at 43,514 BTC, Metaplanet at 43,000 BTC, MARA at 35,577 BTC and Bitcoin Standard Treasury Company at 30,021 BTC.
The purchase also highlights the financing choices shaping the corporate treasury race. Strategy sold 18.26 million MSTR shares for about $2 billion between Aug. 17 and Aug. 23 without buying or selling Bitcoin. It put $300 million into a USD Reserve, bringing that reserve to $5.1 billion, and created a $1.59 billion USD Cash pool for potential Bitcoin purchases, preferred-stock dividends, interest payments and securities repurchases.
Market impact
Strive CEO Matt Cole said he has "very strong" conviction that Bitcoin's bear market is over, citing breakouts against the dollar and gold. He said Bitcoin bottomed against gold in February, about five months before its dollar-denominated bottom in July, and views the BTC/gold ratio as a useful gauge.
Strive's cash and cash equivalents rose to $171.9 million from $154.8 million as of Aug. 14, while the fair value of its 505,000 STRC preferred shares increased to $48.6 million from $47.9 million. The key read is whether treasury companies keep converting financing capacity into BTC exposure as Bitcoin prices move higher.
Frequently asked questions
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What average price did Strive pay for the 1,110 BTC?
Strive paid an average of $73,409 per Bitcoin, including fees and expenses.
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Where does Strive rank among public companies holding Bitcoin?
Bitcoin Treasuries ranks Strive as the seventh-largest public company holder of Bitcoin.
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How did Strategy fund its reserves without changing its Bitcoin position?
Strategy sold 18.26 million MSTR shares for about $2 billion and did not buy or sell Bitcoin. It allocated $300 million to a $5.1 billion USD Reserve and created a $1.59 billion USD Cash pool.
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What is Matt Cole's view on Bitcoin's bear market?
Strive CEO Matt Cole said he has "very strong" conviction that the bear market is over, citing breakouts against the dollar and gold.
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What balance-sheet changes did Strive report alongside the purchase?
Strive's cash and cash equivalents rose to $171.9 million from $154.8 million. The fair value of its 505,000 STRC preferred shares rose to $48.6 million from $47.9 million.
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