Strive buys 2,500 BTC for $185M as Strategy turns seller!

Strive (ASST) has acquired 2,500 bitcoin for approximately $185.2 million at an average price of $74,092 per coin, according to an 8-K filing, lifting its total holdings to 19,000 BTC and cementing its place among the top 10 publicly traded corporate bitcoin holders. The purchase was executed at a lower average cost than Strive's prior acquisition of 1,109 BTC at $76,989 on May 22, indicating the company bought into the recent slide that pulled BTC from above $74,000 to roughly $70,800.

Why it matters

The timing is striking: the buy comes one day after Strategy (MSTR) — the largest corporate bitcoin holder — disclosed its first publicized sale of 32 BTC for $2.5 million at an average price of $77,135, a move that sparked a sell-off across BTC and the broader crypto market. Strive's counter-move signals that at least one institutional treasury is treating the dip as an entry point rather than an exit. The company also reported a quarter-to-date BTC yield of 23.0%, a year-to-date yield of 36.7%, and an amplification ratio of 57.0%, while raising cash reserves to maintain an 18-month dividend reserve.

Market impact

Benchmark analyst Mark Palmer initiated coverage of ASST with a Buy rating and a $32 price target on Tuesday, implying roughly 93% upside from the $16.58 pre-market price despite a 3.59% pre-market decline. With open interest in BTC futures climbing to 773,000 BTC — one of the highest readings on record — and funding rates elevated at 10% annualized, leveraged traders appear positioned for a rebound even as spot demand remains weak and the Coinbase Premium Index sits deeply negative near -100.