Strive buys 1,800 Bitcoin for $143M, becomes fifth-biggest corporate holder
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Strive, a publicly traded asset manager and Bitcoin treasury company, purchased 1,800 Bitcoin for approximately $143 million between August 24 and 28, raising its total holdings to 23,156 BTC. This acquisition made Strive the fifth-largest publicly traded corporate Bitcoin holder, surpassing crypto exchange Bullish. CEO Matt Cole confirmed the purchase, which followed an earlier buy of 1,110 BTC the prior week.
Why it matters
According to the source, Strive’s increased Bitcoin accumulation occurs amid a broader market recovery, signaling renewed corporate interest in Bitcoin as prices rebound. The development highlights a trend of heightened institutional Bitcoin buying, evidenced also by Michael Saylor’s Strategy resuming purchases after a pause.
Key context
Strive has accelerated Bitcoin purchases in recent weeks, increasing its holdings by about 8.4% in just five business days. The market rebound began around August 19 after the US Treasury announced plans to double certain bond buybacks, lowering yields and boosting risk assets like Bitcoin, which rallied over 23% to above $81,000. Other significant corporate buyers, such as Strategy, have also resumed acquisitions recently.
Key numbers and entities
Strive acquired 1,800 BTC for around $143 million at an average price of $79,431 per coin. Total Strive holdings rose from 21,356 to 23,156 BTC. Michael Saylor’s Strategy bought 4,603 BTC at an average of $80,318, lifting holdings above 845,000 BTC. Bullish was overtaken by Strive as the fifth-largest publicly traded corporate Bitcoin holder.
What remains unclear
The source does not specify how Strive plans to finance future purchases, its long-term Bitcoin strategy, or details behind the decision to accelerate accumulation now. It also does not cover how these acquisitions may affect Strive’s financial performance or user impact.