Strive has expanded its Bitcoin treasury with another major purchase as corporate demand for scarce digital assets continues gaining momentum. The company bought 1,110 BTC for roughly $81.5 million between August 17 and August 21. Consequently, its total Bitcoin holdings climbed to 21,356 BTC. Strive paid an average of $73,409 per coin, including fees and expenses.
Treasury Growth Accelerates
The latest purchase increased Strive’s Bitcoin reserves by about 5.5% from 20,246 BTC earlier this month. Moreover, the company now ranks among the largest public corporate Bitcoin holders worldwide.
Strive’s cash and equivalents also rose to $171.9 million from $154.8 million. Additionally, its 505,000 STRC preferred shares gained value to $48.6 million.
However, Strive’s strategy differs from companies that paused purchases during recent market moves. Strategy reported no Bitcoin transactions despite raising roughly $2 billion through stock sales.
Bitcoin Demand Strengthens
Bitcoin trades near $79,016 after gaining 2.23% over 24 hours and 22.9% over seven days. Hence, Strive’s latest purchase reflects growing confidence in Bitcoin’s recovery.
Related: Coinbase-Backed Group Endorses 32 Crypto-Friendly US Candidates
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