Strive Acquires $169 Million in Bitcoin to Boost Holdings
- Strive purchased 2,000 Bitcoin between September 28 and October 2 at an average price of $84,422 per coin.
- This acquisition is the largest since May, when Strive bought 2,500 Bitcoin.
- As of October 2, Strive’s holdings increased to a total of 29,462 Bitcoin, marking a rise of approximately 48% since July.
- The company maintains $284.7 million in cash with no debt obligations.
- Strive’s average cost per Bitcoin was $90,170 by the end of September, higher than the trading price of about $86,000 on Monday.
Strive’s recent purchase marks its biggest acquisition in four months, significantly boosting its total Bitcoin holdings to nearly $2.5 billion at current market values. This move underscores Strive’s strategy as a Bitcoin treasury company focused on accumulating digital assets rather than traditional cash reserves.
Despite paying more per coin on average than the current market value, Strive continues to expand its cryptocurrency portfolio aggressively. The company’s financial position remains strong with substantial cash reserves and no debt burden.(Source)
