Strive buys 1,110 Bitcoin for $81.5M, holdings top 21K BTC; ASST shares surge 11%
Strive’s Nasdaq-traded shares surged more than 11% as the Bitcoin treasury company said it paid an average of $73,409 per BTC, pushing its holdings to 21,356 Bitcoin.
Strive's Nasdaq shares surged more than 11% after the Bitcoin treasury company announced the purchase of 1,110 Bitcoin for an average price of $73,409 per BTC, raising its holdings to 21,356 BTC. The total investment amounted to approximately $81.5 million, bringing the company's Bitcoin treasury to the seventh-largest publicly traded corporate position, behind Bullish and ahead of SpaceX, according to BitcoinTreasuries.NET data.
The company's cash and cash equivalents increased by $17.1 million to $171.9 million during the same period. Strive's ASST shares were up more than 11% in Monday morning trading, with analysts expecting further gains as the company's strategy aims to capitalize on Bitcoin's increasing value and scarcity trade. CEO Matt Cole emphasized the potential of Bitcoin becoming the fastest horse inside an expanding scarcity trade while the company works responsibly to amplify the outcome.
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