Strive buys 1,800 Bitcoin for $143 million

Strive, a publicly traded asset manager and Bitcoin treasury company, added 1,800 Bitcoin to its holdings. The company paid approximately $143 million between Aug. 24 and Aug. 28. Strive paid an average of $79,431 per BTC, including fees and expenses. CEO Matt Cole confirmed the acquisition on Monday. Strive's holdings reached 23,156 BTC. The company held 21,356 BTC a week earlier. The purchase pushed Strive past Bullish, a crypto exchange and digital asset infrastructure company. Industry data ranked Strive as the fifth-largest publicly traded corporate holder of Bitcoin. Adam Livingston, an adviser to Saturn Credit, said the purchase increased Strive's holdings by roughly 8.4% in five business days. Bitcoin and the wider digital asset market began a broad recovery on Aug. 19. The US Treasury Department announced plans that day to double the size of certain long-term bond buybacks. The announcement helped push Treasury yields lower and fueled a rebound in risk assets. Bitcoin rallied more than 23%. Bitcoin reached a recent high above $81,000. Strategy resumed Bitcoin purchases on Monday for the first time since June. Strategy acquired 4,603 Bitcoin. Strategy paid an average price of $80,318 per BTC. The purchase lifted Strategy's holdings back above 845,000 BTC. Strategy had made four Bitcoin sales since May.