Strive buys 1,109 BTC for $85.4M, leapfrogs Coinbase and…

Strive Asset Management disclosed Tuesday that it purchased an additional 1,109 bitcoins for roughly $85.4 million, acquired between May 19 and May 22 at an average price of just under $77,000 per coin. The buy lifts Strive's total holdings to 16,500 BTC, pushing the Vivek Ramaswamy-founded firm to seventh place among public corporate bitcoin holders — just ahead of Coinbase Global's 16,492 BTC.

Strive also surpassed Riot Platforms, which has been trimming its BTC stack this year to fund AI and data center expansion, including a growing partnership with AMD. Shares of Strive (NASDAQ: ASST) jumped more than 4% Tuesday morning, hovering near $19 and approaching a year-to-date high.

The purchase lands alongside a string of bullish disclosures: Strive has fully repaid all outstanding debt and holds zero encumbered bitcoin.