Strive buys $143 million in Bitcoin to claim fifth-largest corporate treasury
Strive’s $143 million Bitcoin acquisition elevates the asset manager to the fifth-largest corporate holder, highlighting renewed institutional accumulation as macroeconomic shifts drive a broader digital asset recovery.
Strive, a publicly traded asset manager and Bitcoin treasury company, acquired 1,800 Bitcoin for approximately $143 million last week. Chief Executive Matt Cole confirmed the transaction, which was executed between August 24 and August 28 at an average price of $79,431 per coin, inclusive of fees and expenses.
This latest capital deployment accelerates the firm's accumulation strategy and pushes its total reserves to 23,156 Bitcoin. The move elevates Strive past the digital asset infrastructure firm Bullish, securing its position as the fifth-largest publicly traded corporate holder of the cryptocurrency. For investors, this rapid expansion signals a strong conviction in the asset's long-term treasury value.
The pace of acquisition has intensified significantly over the past two weeks, reflecting a shift in capital allocation. Adam Livingston, an adviser to Saturn Credit, observed that the latest purchase expanded the company’s Bitcoin holdings by roughly 8.4 percent in just five business days.
Prior to this week's deployment, Strive had already purchased 1,110 Bitcoin for approximately $81.5 million during the preceding week. That earlier tranche was acquired at an average price of $73,409 per coin, demonstrating that the company is willing to absorb higher entry costs to maintain its accumulation trajectory.
The aggressive corporate buying coincides with a broad recovery in digital assets that began on August 19. The US Treasury Department announced plans to double the size of specific long-term bond buybacks, a macroeconomic intervention that pushed Treasury yields lower and catalyzed a wider rally in risk assets.
Following the Treasury announcement, Bitcoin rallied more than 23 percent to reach a recent high above $81,000. This favorable shift in the macroeconomic environment has clearly encouraged corporate treasuries to resume accumulating the asset, reversing previous periods of market hesitation.
Strive is not the only major corporate player increasing its exposure during this market rebound. Michael Saylor’s Strategy, the world’s largest corporate Bitcoin holder, announced on Monday that it had resumed purchasing the asset for the first time since June.
Strategy acquired 4,603 Bitcoin at an average price of $80,318, bringing its total reserves back above 845,000 coins. This purchase follows a series of four sales made by the company since May, marking a distinct reversal in its treasury management approach and highlighting renewed institutional confidence.
