Strive is moving into high gear. The Nasdaq-listed asset manager (ASST) just acquired an additional 1,800 bitcoins for a total bill of around $143 million. An operation made official on Monday on X by his boss, Matt Cole. Paid at an average price of $79,431 per unit, this new salvo raises the firm’s total reserve to 23,156 BTC, or nearly $1.76 billion according to its latest 8-K report.
In brief
- Strive bought 1,800 BTC for around $143 million;
- The average acquisition price is $79,431;
- The company’s total reserves now reach 23,156 BTC.
A neck-and-neck bet with the Bitcoin spot market
This acquisition is in line with the accumulation of large Bitcoin wallets observed since mid-summer. With a spot price hovering around $78,600 at the time of the announcement, Strive paid for its tokens slightly above the instant price.
The operation is therefore currently close to balance. But Strive sees further: the king of cryptos has had a sparkling month of August (+24%), its best monthly performance in years, driven by the strong return of appetite for risk.
In his official post, Matt Cole also insisted on this long-term vision by revealing the company’s new sales.
The MicroStrategy Clone Strategy
At the end of August, Strive had already spent around $81 million on the purchase of Bitcoin, an operation financed in part by capital raised on the markets. After its merger with Asset Entities, the company adopted a now well-known strategy: using its access to public markets to gradually strengthen its BTC reserves.
The movement takes place in a context where several companies are returning to accumulation. Strategy recently resumed its purchases with a $370 million operation after nearly two months of hiatus. At the same time, nearly 28,000 BTC returned to exchange platforms, a sign that flows remain contrasting between institutional accumulation and potential return of supply to the market.
Investors will now monitor Strive’s upcoming regulatory filings to track the evolution of its reserves, the financing of its acquisitions and the regularity of its purchases.
The strategy carries significant risk, however: as Strive accumulates bitcoin, its balance sheet becomes more exposed to crypto fluctuations. The real issue will therefore be whether the company can continue its expansion without resorting excessively to new share issues, at the risk of diluting its shareholders.
The rate of future purchases will thus give a clearer indication of Strive’s ability to maintain its Bitcoin treasury strategy over time.
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