Strive shares rise 3.79% as bitcoin gains 2.81%

Strive shares were trading 3.79% higher at $31.25 at the time of publication on Friday, according to Benzinga Pro data. Bitcoin was trading around $86,309.22, up 2.81% over the preceding 24 hours. Strive, co-founded by Vivek Ramaswamy, follows a strategy of accumulating bitcoin and increasing bitcoin holdings per share for investors. The article describes Strive as holding more than 23,000 bitcoin worth approximately $1.8 billion on its balance sheet. Strive more recently disclosed a purchase of another 1,107 bitcoin, bringing its total holdings to approximately 27,462 as of September 25. Bitcoin holdings represent a substantial majority of Strive's market capitalization. Strive's stock had roughly a 78% correlation with the iShares Bitcoin Trust ETF over the past 90 days. An increase in bitcoin's price raises the market value of Strive's treasury and can produce a larger percentage move in its stock.