Strive Overtakes Bullish After Adding 1,800 Bitcoin

Strive purchased 1,800 Bitcoin for approximately $143 million between Aug. 24 and Aug. 28, lifting its total holdings to 23,156 BTC and pushing the company past Bullish into fifth place among publicly traded corporate Bitcoin holders. The purchase was made at an average price of $79,431 per coin, including fees and expenses, as crypto markets rebounded.

Strive Adds 1,800 Bitcoin in $143M Purchase

Strive CEO Matt Cole confirmed the acquisition on Monday. The 1,800 BTC purchase increased the company’s holdings from 21,356 BTC to 23,156 BTC, according to Cole’s post confirming the transaction.

The prior week, Strive bought 1,110 BTC for roughly $81.5 million at an average price of $73,409 per coin. The two purchases total 2,910 BTC: 1,800 BTC plus 1,110 BTC. Their reported costs add up to approximately $224.5 million, based on $143 million plus $81.5 million.

Adam Livingston, an adviser to Saturn Credit, said the latest purchase increased Strive’s Bitcoin holdings by roughly 8.4% in five business days. The acquisition pushed Strive past Bullish, the crypto exchange and digital asset infrastructure company, to become the fifth-largest publicly traded corporate holder of Bitcoin, according to Bitcoin Treasuries.

Corporate Bitcoin Buying Returns as Price Rebounds

Strive’s latest purchases coincided with a broader recovery in Bitcoin and the digital asset market that began on Aug. 19, when the US Treasury Department announced plans to double the size of certain long-term bond buybacks. The move helped push Treasury yields lower and was followed by a rebound in risk assets, with Bitcoin rallying more than 23% to a recent high above $81,000.

Strive was not alone in increasing its Bitcoin holdings. Michael Saylor’s Strategy, the world’s largest corporate Bitcoin holder, announced Monday that it had resumed buying BTC for the first time since June. Strategy acquired 4,603 Bitcoin at an average price of $80,318, lifting its holdings back above 845,000 BTC following four Bitcoin sales since May.

The purchases by Strive and Strategy came during the wider market recovery and added to recent activity among publicly traded companies holding Bitcoin on their balance sheets.