Strategy and Strive together bought $183 million worth of Bitcoin as the cryptocurrency’s price climbed above $85,000. The purchases add to a growing pattern of companies treating Bitcoin as a reserve asset on their balance sheets.
Strategy and Strive’s $183 Million Bitcoin Purchase
Two companies, Strategy and Strive, made separate Bitcoin purchases that combined to reach $183 million in total. Strategy, formerly known as MicroStrategy, has been one of the most prominent corporate Bitcoin buyers. Strive is a newer entrant to corporate Bitcoin treasury strategy. For related coverage, see REX and Tuttle Launch ASSX, a 2x Daily Strive ETF.
KEY TAKEAWAYS
- Strategy and Strive combined to buy $183 million in Bitcoin.
- Bitcoin’s price moved above $85,000 around the time of the purchases.
- The buys add to the ongoing trend of companies holding Bitcoin as a treasury asset.
Strategy has disclosed its Bitcoin purchases through regulatory filings with the U.S. Securities and Exchange Commission. These filings give investors a formal record of each acquisition.
Strive has been building its Bitcoin holdings steadily. The company previously bought 469 Bitcoin, bringing its total holdings to 25,000 BTC. Before that, Strive had purchased 1,375 Bitcoin even as its preferred share dividend costs rose, signaling a consistent commitment to accumulation.
Bitcoin Price Rises Above $85,000
Bitcoin crossed the $85,000 threshold around the time of the reported purchases. A price above $85,000 means someone who bought one Bitcoin at the start of 2024 for roughly $43,000 would now hold an asset worth roughly double.
The price move coincided with renewed buying activity from corporate treasuries. Whether the corporate purchases helped push the price higher, or whether the rising price encouraged more buying, is not confirmed by available evidence.
What This Means for Bitcoin Watchers
The combined $183 million purchase by two separate companies signals that the corporate Bitcoin treasury trade is still active. This strategy, where companies hold Bitcoin instead of cash on their balance sheets, has been revived as the price recovers above $85,000.
This trend is drawing interest from financial markets beyond the U.S. Brazil’s B3 stock exchange recently listed DIGY11, a fund tied to Bitcoin treasury companies like these, showing investor appetite for exposure to companies that hold Bitcoin as a core asset. There is also related legislative activity, with the ARMA bill advancing to committee markup amid debate over a U.S. Bitcoin reserve.
For someone considering their first Bitcoin purchase, large corporate buys do not guarantee prices will keep rising. What they do show is that some well-funded institutions view current prices as worth buying. The details of exactly how many coins each company purchased and at what price remain unconfirmed beyond the $183 million combined figure reported at this time.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always research carefully before making decisions.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
