Key Highlights
- Strive bought 382 BTC for about $30M, raising its total holdings to 15,391 BTC, worth around $1.2B.
- The company keeps stacking Bitcoin through repeated purchases and now ranks as the 9th-largest corporate Bitcoin holder globally.
- Strive funds its Bitcoin purchases through major capital raises from its investors.
Strive, an asset management firm, has expanded its Bitcoin treasury once again, purchasing an additional 382 BTC worth about $30 million.
The update was shared by CEO Matt Cole on X on Tuesday. According to Cole, the company paid an average price of $79,348 per Bitcoin. This brings the firm’s total Bitcoin holdings to 15,391 BTC, which is worth nearly $1.2 billion at current market prices.
Strive continues aggressive Bitcoin accumulation
The latest purchase adds to a series of Bitcoin acquisitions completed over recent months.
Earlier in April, the company bought 444 BTC for about $33.9 million at an average price of $76,307 per coin. Before that, the firm acquired 789 BTC for just over $61 million at $77,890 per Bitcoin. Each of these moves reflects a consistent approach focused on long-term Bitcoin exposure rather than short-term trading.
Strive now ranks as the ninth-largest Bitcoin-holding company in the world, ahead of mining company Hut 8 and behind Riot Platforms, according to data from Bitcoin Treasuries.
How Strive funds its Bitcoin purchases
The company does not only rely on its own cash. It also raises money from investors to buy more Bitcoin. Last year, it raised about $160 million through a special type of investment called Variable Rate Series A Perpetual Preferred Stock (SATA). This product pays investors monthly and is designed to keep its price range stable between about $99 and $100.
Earlier this year, Strive also raised another $225 million through a larger follow-on stock sale. This gave the company more money to keep buying Bitcoin.
Strive’s Bitcoin strategy
Founded in 2022 by Vivek Ramaswamy, Strive Asset Management operates exchange-traded funds, investment trusts, and other investment products under its umbrella.
The company has described itself as the “first publicly traded asset management Bitcoin treasury company,” a label it uses to position its business model around Bitcoin accumulation. It also expanded through the acquisition of Semler Scientific in an all-stock transaction, extending its footprint beyond traditional asset management.
Moreover, Strive’s strategy aligns with approaches used by larger corporate Bitcoin holders, such as Michael Saylor’s Strategy, the biggest Bitcoin treasury company in the world.
Both companies raise money from investors or markets and then use that money to buy Bitcoin. In short, they are not trying to trade Bitcoin quickly or make a short profit. Instead, they focus on holding it for a long time.
BTC holds steady at $76K
At the time of writing, Bitcoin is trading around $76,565, up 0.39% over the past 24 hours. Despite the modest daily gain, Bitcoin remains down roughly 5% over the last seven days after retreating from weekly highs above $80,000.
Daily trading volume has declined about 10% to approximately $32 billion, while Bitcoin’s market capitalization stands near $1.53 trillion.
As more public companies continue to adopt treasury strategies centered on Bitcoin, Strive’s latest purchase further highlights growing institutional conviction in the asset’s long-term value.
Also Read: Strategy’s Bitcoin Play Fuels Stock Confidence, TD Cowen Sees 140% Upside in MSTR
