Strive buys 1,800 Bitcoin for $143M, becomes fifth-biggest corporate holder
Strive’s latest Bitcoin purchase lifted its holdings to 23,156 BTC, making it the fifth-largest publicly traded corporate holder as crypto markets rebound.
Strive, a publicly traded asset manager and Bitcoin treasury company, has acquired 1,800 Bitcoin for approximately $143 million, making it the fifth-largest publicly traded corporate holder of the cryptocurrency. The company's Bitcoin holdings have increased from 21,356 BTC to 23,156 BTC in just five business days, a 8.4% rise. CEO Matt Cole announced the acquisition, which took place between August 24 and August 28.
Strive's latest purchase has propelled it past crypto exchange Bullish to become the fifth-largest publicly traded corporate holder of Bitcoin. This acquisition comes at a time when Bitcoin is experiencing a broad recovery, with the value of the cryptocurrency up more than 23% to a recent high above $81,000. The surge in Bitcoin's price can be attributed to the US Treasury Department's announcement of doubling the size of certain long-term bond buybacks on August 19, which helped push Treasury yields lower and fueled a rebound in risk assets.
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