Strive buys $280M in Bitcoin at $84,500 average, bringing its total holdings to 32,773 BTC.
Macro & Markets ·
Strive bought 3,311 BTC worth approximately $280 million between October 5 and 9 at an average price of $84,500 per coin, marking its largest single purchase since January and bringing total holdings to 32,773 BTC. The Nasdaq-listed asset manager, which trades under ticker ASST, disclosed the acquisition in a filing on Monday. The purchase caps a period of accelerated accumulation, following a $169 million buy earlier in October and a $94.5 million purchase in late September.
The timing positioned Strive to acquire coins during market weakness, at prices below Bitcoin's recent highs near $87,000. The firm entered the public markets through a merger with Asset Entities and has since completed an additional combination with Semler Scientific to expand its balance sheet. Beyond Bitcoin, Strive holds approximately 505,000 shares of preferred stock and roughly $310 million in cash.
The buying activity reflects broader momentum among public companies adopting Bitcoin treasury strategies to tie shareholder returns to the asset's performance. Other entities including Strategy and DeFi Development Corp. have similarly accumulated holdings during the same period, though questions remain about how dependent such firms' valuations are on continued acquisition activity and whether the concentrated exposure to a volatile asset presents long-term risks.