Image Credit: strive.com
Strive bought another 1,800 Bitcoin for approximately $143 million between August 24 and August 28, expanding its treasury for a second consecutive week. The company paid an average of $79,431 per Bitcoin, including fees and expenses, and increased its holdings from 21,356 BTC to 23,156 BTC.
The purchase followed Strive’s $81.5 million acquisition of 1,110 BTC during the previous week. Across the two reporting periods, the company added 2,910 BTC for roughly $224.5 million.
Strive Bitcoin Holdings Reach 23,156 BTC
Strive CEO Matt Cole confirmed the latest transaction on August 31, writing that the company had acquired an additional 1,800 BTC for $143M. The purchase increased Strive’s Bitcoin holdings to 23,156 BTC.
Strive’s balance sheet also changed during the acquisition period. Class A common shares outstanding increased by about 3.58 million to 83.47 million, while SATA preferred shares outstanding rose by 803,099 to approximately 9.07 million.
Cash and cash equivalents nevertheless increased from $171.9 million on August 21 to $183.5 million on August 28. Strive also continued holding 505,000 shares of Strategy’s STRC preferred stock, valued at approximately $49.15 million at the end of the period.
Strategy Also Returns to Bitcoin Buying
Strive’s purchase coincided with Strategy resuming Bitcoin acquisitions after its first extended pause since June. Strategy bought 4,603 BTC for $369.7 million between August 24 and August 30 at an average price of $80,318 per Bitcoin.
The acquisition raised Strategy’s holdings to 845,050 BTC. Its SEC filing shows that $369.7 million of proceeds from MSTR share sales during the period were used to fund the Bitcoin purchases.
Treasury Companies Add More Digital Assets
The same period also saw BitMine disclose another 53,501 ETH, taking its Ether holdings to more than 5.9 million tokens. Strive and Strategy, meanwhile, accounted for more than $500 million in newly disclosed Bitcoin purchases between them.
The disclosures show continued digital-asset purchases by several large treasury companies, including renewed Bitcoin buying by Strategy. Whether that pace continues will depend in part on the companies’ access to capital and their subsequent treasury disclosures.
