Strive Asset Management Expands Bitcoin Holdings with $61M Purchase
- Strive Asset Management purchased 789 BTC for approximately $61.43 million, averaging about $77,890 per coin.
- This acquisition raises Strive’s total Bitcoin holdings to 14,557 BTC, valued at around $1.3 billion.
- Strive is now the ninth-largest corporate holder of Bitcoin, surpassing Hut 8 and trailing only Coinbase.
- Following the announcement, Strive’s stock (ASST) rose by 2.15% to $16.15.
- The company has raised significant capital through its Variable Rate Series A Perpetual Preferred Stock (SATA), with a recent dividend yield increase to 12.75%.
Strive’s recent Bitcoin purchase aligns with its ongoing “buy and hold” strategy and follows a larger $255 million acquisition by another firm in the sector. The company’s initiatives also include launching an ETF in collaboration with Tuttle Capital Management.
With this latest purchase of over $61 million in Bitcoin, Strive continues to solidify its position as a major player in the cryptocurrency market, now holding a total of approximately 14,557 BTC.
