Strive has expanded its Bitcoin treasury to 23,156 BTC after completing another major purchase worth about $143 million.
The latest acquisition has pushed the publicly traded asset manager into fifth place among the largest corporate Bitcoin holders as the cryptocurrency market continues to recover.
Strive Buys Another 1,800 Bitcoin
Strive purchased 1,800 Bitcoin between Aug. 24 and Aug. 28, according to the company.
The transaction was valued at approximately $143 million, with Strive paying an average price of $79,431 per Bitcoin. The figure includes fees and other related expenses.
CEO Matt Cole confirmed the latest Bitcoin purchase on Monday.
Following the acquisition, Strive’s total Bitcoin holdings increased from 21,356 BTC to 23,156 BTC.
Bitcoin Accumulation Accelerates
The latest deal follows another significant purchase made just one week earlier.
Strive previously acquired 1,110 BTC for approximately $81.5 million. That purchase was completed at an average price of $73,409 per Bitcoin.
As a result, the company has significantly accelerated its Bitcoin accumulation strategy in recent weeks.
Adam Livingston, an adviser to Saturn Credit, noted that Strive increased its Bitcoin holdings by around 8.4% in only five business days.
Strive Becomes Fifth-Largest Corporate Bitcoin Holder
The latest purchase also moved Strive ahead of crypto exchange Bullish in rankings of publicly traded companies holding Bitcoin.
With 23,156 BTC on its balance sheet, Strive is now ranked as the fifth-largest publicly traded corporate Bitcoin holder, according to industry data.
The milestone highlights the growing role of Bitcoin treasury strategies among publicly traded companies.
Corporate Bitcoin Buying Returns as BTC Rebounds
Strive’s recent Bitcoin purchases have come alongside a broader recovery across cryptocurrency markets.
Bitcoin began gaining momentum around Aug. 19 after the U.S. Treasury Department announced plans to increase the size of certain long-term bond buybacks.
The development helped push Treasury yields lower and supported demand for risk assets. Bitcoin subsequently rallied more than 23%, reaching a recent high above $81,000.
Strategy Also Resumes Bitcoin Purchases
Strive is not the only major company increasing its exposure to Bitcoin.
Strategy, led by Michael Saylor and currently the world’s largest corporate Bitcoin holder, announced on Monday that it had resumed Bitcoin purchases for the first time since June.
The company acquired 4,603 BTC at an average price of $80,318 per Bitcoin.
That purchase lifted Strategy’s total Bitcoin holdings back above 845,000 BTC following several Bitcoin sales since May.
The renewed accumulation by companies such as Strive and Strategy suggests that corporate demand for Bitcoin is strengthening again as cryptocurrency prices recover.
