Strive expands Bitcoin stash to 23,156 BTC, ranks fifth among public holders
Macro & Markets ·
The asset-management firm added 1,800 BTC for $143 million, moving it into the fifth spot among corporate Bitcoin treasuries.
Strive's latest purchase, reported by CryptoPotato, brings its total Bitcoin position to 23,156 BTC after the $143 million acquisition of 1,800 coins. The addition lifts the firm past several rivals in the ranking of publicly traded companies holding Bitcoin on their balance sheets, placing it fifth overall.
The purchase fits a pattern of steady accumulation rather than a single large move. Strive has been building its position incrementally over recent months, with earlier disclosed buys including a 1,110 BTC purchase and a smaller 32 BTC add-on, each reported as the treasury climbed from roughly 19,000 BTC toward its current size. The latest transaction represents one of the larger single additions in that sequence.
Corporate Bitcoin treasuries generally fund purchases through a mix of retained cash, equity sales, and convertible debt, with the asset then marked to market on the balance sheet. Strive's growing allocation places it within a broader field of public companies pursuing this strategy, a group led by far by Strategy's holdings of well over 500,000 BTC but populated by numerous smaller entrants competing for rank in the mid-tier of treasury size.
The move comes alongside a bullish signal from Wall Street coverage of the sector: TD Cowen has raised its price target on Bitcoin treasury-linked equities, a development noted on social media alongside the Strive purchase. TD Cowen's broader treasury-sector commentary has also included adjustments to other names in the space, underscoring active analyst interest in how these balance-sheet strategies are priced.
Not yet detailed publicly is the exact average price Strive paid per coin in this latest 1,800 BTC purchase, nor how the acquisition was financed. Also unclear is how the new TD Cowen price target specifically weighs Strive's position relative to other treasury firms it covers. Whether Strive continues its incremental buying pattern in the near term, and how its ranking among public holders shifts as competitors make their own purchases, remains to be seen.