Strive Buys 1,800 Bitcoin for $143 Million, Reaches 23,156 BTC and Fifth Place: how 17 outlets framed it

Strive adds 1,800 BTC

The purchase was made at an average price of $79,431 per coin, and the transaction was described as part of an aggressive Bitcoin treasury strategy by CEO Matt Cole.

Bloomingbit and Decrypt both tied the latest tranche to Strive’s Nasdaq listing under the ticker ASST and to the company’s accumulation cadence.

Bloomingbit also said TD Cowen raised its price target on Strive’s ASST shares from $28 to $32 and maintained its buy rating after the buy.

Price, valuation, and timing

Decrypt said the latest tranche raised Strive’s total holdings to 23,156 BTC, worth about $1.76 billion at the reference price cited in the disclosure, and it quoted CEO Matt Cole saying the company paid an average price of $79,431 per coin.

Bloomingbit reported that ASST was trading at about $23 on the morning of August 31, up about 6% on the day, and it said the stock has gained about 165% over the past six months.

Menafn added that Strive paid an average of $79,431 per Bitcoin for the latest tranche and that holdings rose to 23,156 BTC from 21,356 BTC a week earlier.

Bloomingbit further projected that Strive would buy about 4,300 more Bitcoin in the third quarter and another 3,000 in the fourth quarter, which it said would put total holdings within reach of fourth place held by Adam Back-led Bitcoin Standard Treasury Company with about 30,000 Bitcoin.