Strive has bought another 1,110 BTC for $81.5 million, pushing its total holdings to 21,356 Bitcoin. The purchase, funded through share sales, coincided with a jump in Strive's stock price and a rebound in Bitcoin toward $79,000.
Bitcoin treasury company Strive purchased an additional 1,110 BTC worth $81.5 million between August 17 and 21, at an average price of $73,409 per coin. The company disclosed the purchase in an official filing on August 24.
Strive's holdings climb to 21,356 BTC
The purchase brings Strive's total Bitcoin holdings to 21,356 BTC, worth $1.69 billion. It follows a smaller buy in which the company acquired 79 BTC for $5 million.
Strive funded the latest purchase using proceeds from at-the-market share sales of its ASST and SATA stock. As a result, the company's cash and cash equivalents rose to $171.9 million. Chairman and CEO Matt Cole said on social media last week that Bitcoin looked cheap at current levels and that the company felt comfortable taking on risk to buy more.
ASST and SATA shares move higher
Strive's ASST stock rose more than 5% in premarket trading on Monday, after closing Friday at $18.22, up 12.96%. Meanwhile, Strive board director Pierre Rochard bought 15,900 ASST Class A common shares last week, betting on stronger Bitcoin fundamentals.
SATA preferred stock, which the company also used to fund the Bitcoin purchase, stayed close to its par value, last closing near $100.01 on Friday.
Bitcoin bounces as treasury buying continues
Bitcoin itself climbed above $79,000, a 3% bounce over the past 24 hours, trading between a 24-hour low of $76,718 and a high of $79,221. Trading volume over the same period increased by 34%.
On Polymarket, prediction-market participants currently expect Bitcoin to reach $85,000 by December, with 73% Yes bets.
Source: CoinGape
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