Asset Manager Strive Acquires 1,800 BTC Worth $143M, Climbs to Fifth Place Among Corporate Bitcoin Holders
The asset management firm Strive has increased its Bitcoin reserves to 23,156 BTC following a $143 million acquisition, securing its position as the fifth-largest publicly listed corporate Bitcoin holder amid a recovering cryptocurrency market.
A publicly listed asset management firm and Bitcoin treasury company known as Strive expanded its Bitcoin reserves by 1,800 BTC last week, continuing an aggressive accumulation campaign that has elevated the firm to become one of the top five publicly traded corporate Bitcoin holders worldwide.
Between Aug. 24 and Aug. 28, the firm acquired the Bitcoin (BTC) for around $143 million, with an average cost of $79,431 per BTC when accounting for fees and expenses. The acquisition was confirmed by CEO Matt Cole on Monday.
Following this transaction, Strive's cumulative Bitcoin holdings reached 23,156 BTC, representing an increase from the 21,356 BTC held just one week prior. According to Cointelegraph's earlier reporting, the firm had acquired 1,110 BTC during the preceding week for approximately $81.5 million, paying an average price of $73,409 per coin.
In recent weeks, Strive has significantly accelerated its Bitcoin acquisition strategy. Adam Livingston, who serves as an adviser to Saturn Credit, observed that this most recent purchase expanded the firm's Bitcoin reserves by approximately 8.4% within a span of just five business days.
This acquisition also enabled Strive to surpass Bullish, a crypto exchange and digital asset infrastructure company, securing the position as the fifth-largest publicly traded corporate Bitcoin holder, based on industry data.
Corporate Bitcoin buying returns as price rebounds
The timing of Strive's most recent acquisitions has aligned with a widespread recovery across Bitcoin and the broader digital asset market that commenced on Aug. 19, coinciding with the US Treasury Department's announcement regarding plans to double the size of certain long-term bond buybacks. This initiative contributed to pushing Treasury yields downward and sparked a rebound in risk assets, with Bitcoin surging more than 23% to reach a recent peak above $81,000.
Strive is not the only corporation intensifying its Bitcoin acquisition activity. Strategy, led by Michael Saylor and recognized as the world's largest corporate Bitcoin holder, revealed on Monday that it had recommenced purchasing BTC for the first time since June, adding 4,603 Bitcoin at an average price of $80,318.
This transaction elevated Strategy's total holdings back above 845,000 BTC after completing four Bitcoin sales since May.