Strive acquired 1,110 bitcoin for approximately $81.5m between 17 and 21 August, taking its total holdings to 21,356 BTC, according to a filing with the US Securities and Exchange Commission.
The bitcoin was bought at an average price of $73,409 per coin, including fees and expenses. The purchase increased Strive’s holdings by about 5.5%, from 20,246 BTC in mid-August.
Data from Bitcoin Treasuries ranks Strive as the seventh-largest publicly listed company holding bitcoin. Strategy, led by Michael Saylor, remains the biggest corporate holder, with 840,447 BTC.
Twenty One Capital is second with 43,514 BTC, followed by Metaplanet on 43,000 BTC, MARA with 35,577 BTC and Bitcoin Standard Treasury Company with 30,021 BTC.
The latest acquisition comes as companies with bitcoin treasury strategies continue to increase their holdings while exploring different ways to fund further purchases.
Strategy, the largest public corporate bitcoin holder, said on Monday that it had sold 18.26 million MSTR shares for about $2bn between 17 and 23 August. It did not buy or sell bitcoin during that period.
The company said it used $300m of the net proceeds to increase its USD Reserve to $5.1bn. A further $1.59bn was placed in a newly created “USD Cash” pool.
Strategy said the pool could be used for future bitcoin purchases, dividends on preferred stock, interest payments, securities repurchases and other corporate purposes.
Strategy’s STRC preferred stock was trading at $96.18 on Monday, below its $100 par value. Strive’s SATA preferred shares were trading at $100.63.
Bitcoin gained almost 25% last week, closing on Friday at $77,387 after rising by $14,264, according to The Block’s BTC price page. The cryptocurrency was trading close to $80,000 on Monday.
Strive chief executive Matt Cole said on Sunday that he had “very strong” conviction that the bitcoin bear market was over. He pointed to recent breakouts by bitcoin against both the US dollar and gold.
Cole said bitcoin reached its low against gold in February, about five months before it bottomed against the dollar in July. He described the BTC/gold ratio as a useful measure of bitcoin’s performance relative to gold and said he expected increasing demand for scarce assets to benefit bitcoin.
Strive’s SEC filing also showed that its cash and cash equivalents had risen to $171.9m from $154.8m as of 14 August.
The fair value of Strive’s 505,000 shares of Strategy’s STRC preferred stock also increased, reaching $48.6m compared with $47.9m previously.
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