Strive Buys 382 BTC, Becomes 9th-Largest Bitcoin Treasury

Strive, Inc. purchased 382 bitcoin for roughly $30 million, increasing its total holdings to 15,391 BTC and positioning the company as the ninth-largest public bitcoin treasury. CEO Matt Cole posted on social media that the latest block was acquired at about $79,348 per coin and that the holdings are worth nearly $1.2 billion at current prices. The post referenced the company's Nasdaq ticker, ASST.

Founded in 2022 by Vivek Ramaswamy, Strive operates as a bitcoin-focused digital asset treasury and asset manager. The firm issues exchange-traded funds, investment trusts and other investment products and has described bitcoin accumulation as a core part of its business strategy.

Strive has raised hundreds of millions of dollars to fund bitcoin purchases. Last year the company raised about $160 million through a Variable Rate Series A Perpetual Preferred Stock (SATA) instrument. Earlier this year Strive completed an upsized follow-on offering that raised about $225 million. The SATA instrument is structured to maintain a strike price near $99–$100 while paying a variable monthly dividend, a financing approach used by other large bitcoin holders.

The company expanded its corporate footprint last year by acquiring Semler Scientific in an all-stock transaction. Strive has previously indicated it will continue to use public offerings and other financing tools to fund further bitcoin accumulation.

With the additional purchase, Strive ranks ahead of miners such as Hut 8 and behind larger holders like Riot Platforms among public corporate bitcoin treasuries. Cole's post provided the purchase price and updated treasury totals but did not outline specific plans for future purchases.