Vanguard Group Boosts Stake in Bitcoin Treasury Firm Strive
- Vanguard’s Total Stock Market Index Fund acquired 276,200 shares of Strive (NASDAQ: ASST) for $4.22 million.
- This purchase increased Vanguard’s total holdings in ASST to approximately $25.2 million, totaling about 1.72 million shares.
- Strive recently purchased 789 BTC for an estimated $61.43 million, averaging $77,890 per BTC.
- Strive now holds a total of approximately 14,557 BTC, valued at around $1.3 billion.
- ASST stock closed at $15.28 on April 28 but rose to $15.40 in pre-market trading following Vanguard’s acquisition news.
The increase in institutional interest from Vanguard highlights growing support for companies utilizing Bitcoin in treasury management strategies. This trend is underscored by Strive’s significant recent investments in Bitcoin.
Following the latest developments, Strive’s stock has shown resilience with a notable increase after the announcement of its Bitcoin acquisition and Vanguard’s investment activity.(Source)
