Strategy and Strive bought more than 2,700 bitcoin over the past week, adding to their treasuries even as the broader bitcoin treasury model remains under pressure.
Strategy, the largest corporate holder of bitcoin, said Monday that it purchased 1,665 BTC last week for $142.7 million. The move marked the company’s second consecutive weekly purchase after a brief hiatus. The Nasdaq-listed firm also said it repurchased $152 million of its preferred stock, STRC.
According to a filing with the U.S. Securities and Exchange Commission, Strategy now holds 847,666 BTC worth $70.5 billion.
Strive, described as the fifth-largest bitcoin treasury, said it bought 1,107 BTC last week at a total cost of $94.5 million. That brought its total holdings to 27,462 BTC.
Combined weekly purchases reached $232.5 million
Bitcoin Magazine said the two public companies bought a combined 2,773 BTC worth about $232.5 million last week.
The purchases came as the bitcoin treasury model has taken a hit. Major treasury companies including Strategy, Satsuma, Smarter Web Company, Sequans, Nakamoto and Empery Digital have all sold bitcoin this year to repay debt, fund operations or finance buybacks. Others have shut down or pivoted to AI infrastructure after their share prices collapsed.
Both companies kept the same message to investors
Strategy stock, which trades under MSTR, has lost more than 50% over the past year. Strive, trading as ASST, is down more than 30% over the same period.
Even so, both companies have told investors that operations remain business as usual and that bitcoin will recover.
Strive CEO Matt Cole has repeatedly said the company is debt-free, has zero margin requirements, and holds zero encumbered bitcoin. He described it as a balance sheet built to withstand volatility.
Strategy has also defended its bitcoin sales earlier this year. CEO Phong Le said those sales left the company with a "bullet-proof balance sheet" and called the decision to sell at that time the "right trade at the time."
The software company said last week that it plans to pay investors daily dividends on four preferred stocks: STRF, STRC, STRK, and STRD.
Bitcoin price was near $83,409
Bitcoin recently traded at close to $83,409, down 3% over the past week.
The report first appeared in Bitcoin Magazine and was written by Mathew Di Salvo.