Strive Buys 1,800 BTC for $143M, Becomes 5th-Largest Corporate Holder

Strive bought 1,800 BTC for $143M at an avg price of $79,431, lifting its holdings to 23,156 BTC and pushing it past Bullish to 5th among public corporate BTC holders.

Strive, a publicly traded asset manager and Bitcoin (BTC) treasury company, purchased 1,800 BTC between Aug. 24 and Aug. 28 for approximately $143 million.

The company paid an average price of $79,431 per

, including fees and expenses, according to a Form 8-K filing released Aug. 31. CEO Matt Cole

the acquisition the same day.

Strive's total holdings rose to 23,156 BTC, up from 21,356 BTC the prior week. The purchase came one week after the company bought 1,110 BTC for roughly $81.5 million at an average price of $73,409 per coin. Adam Livingston, an adviser to Saturn Credit,

that the latest purchase increased Strive's BTC holdings by approximately 8.4% in just five business days.

Strive Jumps Past Bullish To Claim 5th Spot

The acquisition pushed Strive past Bullish, the crypto exchange and digital asset infrastructure company, to become the fifth-largest publicly traded corporate holder of Bitcoin,

to BitcoinTreasuries data. The company

the milestone on X with the post: "Strive to five." TD Cowen analysts responded by raising their price target on Strive's ASST shares more than 14% to $32 from $28, while maintaining a Buy rating. The firm said the increase reflects treasury activity that has "meaningfully exceeded" its previous model.