Strive Acquires $511 Million in Bitcoin, Expanding Holdings to 43,000 BTC

The Bitcoin treasury firm Strive (ASST) has recently acquired a substantial amount of Bitcoin, purchasing 6,182 BTC between October 16th and 23rd for a total of $511 million. This acquisition brings Strive's total Bitcoin holdings to 43,000 BTC, according to documents filed with the U.S. Securities and Exchange Commission.

Strive now ranks as the fourth-largest Bitcoin treasury firm globally, closing in on Metaplanet and Twenty One Capital, which hold 44,000 BTC and 43,514 BTC, respectively. The leading firm, Strategy (formerly MicroStrategy), holds a staggering 848,517 BTC.

Matt Cole, Strive's chairman and CEO, hinted at the potential for significant growth in their Bitcoin holdings by the end of the year. He suggested that while it may not be the base case, it is possible for Strive to become the second-largest Bitcoin holder if certain conditions align.

The recent purchase was made at an average price of $82,732 per Bitcoin, while the cryptocurrency is currently trading at around $79,958.