Strive bought 1,800 Bitcoin last week for about $143 million, lifting its total holdings to 23,156 BTC and making it the fifth-largest publicly traded corporate holder of Bitcoin.
CEO Matt Cole confirmed on Monday that the company made the purchases between Aug. 24 and Aug. 28. Strive paid an average of $79,431 per BTC, including fees and expenses.
The latest acquisition raised Strive’s holdings from 21,356 BTC a week earlier to 23,156 BTC. Cointelegraph previously reported that the company had bought 1,110 BTC the prior week for roughly $81.5 million at an average price of $73,409 per coin.
Strive has stepped up its Bitcoin accumulation in recent weeks. Adam Livingston, an adviser to Saturn Credit, said the latest purchase increased the company’s Bitcoin holdings by roughly 8.4% in five business days.
Strive moves ahead of Bullish
According to industry data cited in the report, the purchase pushed Strive past Bullish, the crypto exchange and digital asset infrastructure company, making Strive the fifth-largest publicly traded corporate holder of Bitcoin.
Corporate Bitcoin buying picks up with the market rebound
Strive’s recent purchases came during a broader recovery in Bitcoin and the wider digital asset market. The rebound began on Aug. 19, when the US Treasury Department announced plans to double the size of certain long-term bond buybacks. That move helped drive Treasury yields lower and supported a rebound in risk assets, with Bitcoin rising more than 23% to a recent high above $81,000.
Strive was not the only buyer. Strategy, the world’s largest corporate Bitcoin holder, said on Monday that it had resumed buying BTC for the first time since June. The company acquired 4,603 Bitcoin at an average price of $80,318.
That purchase pushed Strategy’s holdings back above 845,000 BTC after four Bitcoin sales since May.