Strive Adds 1,800 Bitcoin And Climbs Into Top Five Corporate Holders

Strive Adds 1,800 Bitcoin And Climbs Into Top Five Corporate Holders
Table of Contents

TL;DR

  • Strive acquired 1,800 Bitcoin for $143 million between August 24 and 28, at an average price of $79,431 per unit.
  • The purchase raised the company’s total holdings to 23,156 BTC, positioning it as the fifth-largest publicly traded corporate holder.
  • Strategy also resumed its Bitcoin purchases, adding 4,603 BTC at an average price of $80,318.

Strive strengthened its Bitcoin position during the last week of August, carrying out the acquisition of 1,800 BTC for approximately $143 million between the 24th and 28th of that month. The average price paid was $79,431 per unit, including fees and expenses. Matt Cole, CEO of the company, confirmed the transaction.

The purchase raised the firm’s total holdings to 23,156 Bitcoin, up from the 21,356 BTC recorded a week earlier. The previous week, the company had already added 1,110 BTC for around $81.5 million, at an average price of $73,409 per unit. Adam Livingston, advisor at Saturn Credit, noted that the latest transaction increased holdings by approximately 8.4% in just five business days.

Strive Displaces Bullish

The cumulative volume of purchases was enough to displace Bullish, the exchange also dedicated to digital asset infrastructure, from fifth place among publicly traded corporate holders with the largest amount of Bitcoin. This is reflected in sector data.

Strive’s acquisitions coincided with a broad recovery in the digital asset market that began on August 19, after the U.S. Department of the Treasury announced plans to double the volume of buybacks on certain long-term bonds. The measure helped reduce Treasury yields and encouraged a rebound in risk assets, causing Bitcoin to rise more than 23% to surpass $81,000.

Strive Bitcoin

The Return of Corporate Purchases

Strive was not the only one to strengthen its treasury. Strategy, the largest corporate Bitcoin holder in the world, announced that it resumed its BTC purchases for the first time since June, adding 4,603 units at an average price of $80,318. This transaction raised its total holdings to more than 845,000 BTC, after the firm recorded four sales since May.

RELATED POSTS

Ads

Follow us on Social Networks

Crypto Tutorials

Crypto Reviews