Strive buys $143 million in Bitcoin as treasury firms resume buying

Strive bought another 1,800 BTC worth roughly $143 million. CEO Matt Cole said Monday that Strive paid an average of $79,431 per coin. The purchase raised Strive's total holdings to 23,156 BTC. The holdings were valued at roughly $1.76 billion at the reference price cited in the disclosure. Strive trades on the Nasdaq under the ticker ASST after merging with Asset Entities earlier this year. Strive recently bought $81 million in Bitcoin alongside a share sale. Strategy bought $370 million in Bitcoin this week after a roughly two-month pause. That purchase was Strategy's first since June. Bitmine made its largest Ethereum purchase since June. Bitcoin traded around $78,600 on Monday. Bitcoin was on track to close August with a gain of more than 24%, its strongest month since 2017. Strive's average price for the new purchase was slightly above current levels. The latest purchase was roughly break-even at that time. Public companies have adopted Bitcoin treasury strategies that involve raising capital to accumulate Bitcoin. The approach carries risk because of Bitcoin's volatility.