Strive’s Bold Bitcoin Buy: 1,800 BTC Boosts Holdings to 23,156 and Fifth Place!

Strive has acquired 1,800 BTC at an average purchase price of $79,431 each. This move is a strategic element of a robust Bitcoin treasury initiative led by CEO Matt Cole.

Bitcoin Magazine

The recent acquisition has been linked to Strive’s Nasdaq debut under the ticker ASST, as well as to the company’s ongoing Bitcoin accumulation efforts, according to reports from Bloomingbit and Decrypt.

TD Cowen has reportedly raised its price target for Strive’s ASST shares from $28 to $32 and upheld its buy recommendation following this purchase, reports Bloomingbit.

Decrypt noted that this new addition brings Strive’s total Bitcoin holdings to 23,156 BTC, valued at approximately $1.76 billion. CEO Matt Cole confirmed the company’s purchase price of $79,431 per coin.

On the morning of August 31, Bloomingbit reported that ASST stock was trading at around $23, reflecting a 6% increase that day. Furthermore, the stock has surged approximately 165% in the last six months.

bloomingbit

Menafn reported that Strive purchased the recent Bitcoin tranche at an average price of $79,431, increasing total holdings from 21,356 BTC to 23,156 BTC within a week.

Bloomingbit anticipates that Strive will proceed to acquire around 4,300 more Bitcoin in the third quarter, followed by an additional 3,000 in the fourth quarter, potentially narrowing the gap with the fourth place holder, Adam Back‘s Bitcoin Standard Treasury Company, which currently controls around 30,000 Bitcoin.

According to Bloomingbit, after a purchase of $370 million, Strategy’s holdings are set to surpass 845,000 Bitcoin. This marks their first Bitcoin acquisition in nearly ten weeks following a buying freeze that began in late June as they focused on raising funds.

Crypto News reported that Strive financed its latest acquisitions through at-the-market initiatives utilizing ASST common stock and SATA preferred equity, noting a rise in outstanding Class A shares by 3.58 million for the week.

Additionally, CEO Matt Cole confirmed via a post on X that Strive had secured 1,800 BTC for $143 million at an average cost of $79,431 per coin, raising their total Bitcoin treasury to 23,156 BTC.