Strive, Inc. Acquires 1,110 Bitcoin, Boosting Holdings to Over 21,000 Coins

Strive, Inc., a Dallas-based asset management company, recently announced the acquisition of 1,110 Bitcoin, marking its largest single-week purchase in several months. This strategic move has increased the company's total Bitcoin holdings to 21,356 coins, according to a filing made on Monday.

The company's stock, traded under the ticker ASST on Nasdaq, saw a notable increase, with shares rising over 7% following the announcement. Strive's recent purchase was made between August 17 and August 21 at an average price of approximately $73,409 per Bitcoin, totaling around $81.5 million.

This acquisition represents a 5.5% increase from the 20,246 coins reported in mid-August and positions Strive as the seventh-largest public corporate holder of Bitcoin. The company funded this purchase through proceeds from at-the-market offerings of its ASST and SATA shares, with cash reserves growing to $171.9 million.

Strive's aggressive buying strategy contrasts with its previous purchases, where the company acquired only 147 Bitcoin at an average price of just over $64,800 in early August. The latest acquisition reflects a significant acceleration in its purchasing pace, coinciding with a rally in Bitcoin's price, which surged nearly 25% last week.

Strive's CEO, Matt Cole, expressed confidence that the Bitcoin bear market has ended, citing recent price breakouts against both the dollar and gold. This optimistic outlook aligns with the company's ongoing strategy to build its Bitcoin treasury.