Strive Buys $280 Million in Bitcoin, Its Largest Purchase in Months — SkimNews
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- Strive bought 3,311 BTC for ~$280M between Oct. 5 and Oct. 9 at an average price of ~$84,500/coin (including fees), its largest single Bitcoin purchase since January, lifting total holdings to 32,773 BTC (~$2.73B at current prices) from 29,462 BTC a week earlier.
- The buy caps an aggressive accumulation streak: a $169M purchase earlier this October (then its biggest in four months) followed a $94.5M buy in late September that pushed holdings past 27,000 BTC.
- Matthew Cole-led Strive, trading as ASST on Nasdaq, went public via its merger with Asset Entities and recently completed a tie-up with Semler Scientific to bulk up its balance sheet.
- Beyond Bitcoin, Strive holds ~505,000 shares of Strategy's STRC preferred stock (~$50M) and ~$310M in cash.
- Strive bought into a dip — the average entry of $84,500 sits well below Bitcoin's recent highs near $87,000 as the token endured a rough week.
- The spree mirrors broader sector treasury activity: Strategy added $21.5M in Bitcoin while buying back preferred stock, Solana treasury firm DeFi Development Corp. kept accumulating SOL, and Bitmine continued stacking ETH, though chairman Tom Lee said Bitmine will halt purchases once it hits 5% of ETH supply.
Why it matters: Strive's $280M buy at ~$84,500 lifts holdings to 32,773 BTC and accelerates a multi-week accumulation pace that has already added more than 5,000 BTC since late September. The aggressive buying into a dip from recent highs near $87,000 means ASST shareholders now bear concentrated exposure — the source notes treasury firms have faced scrutiny over how much their stock premiums depend on continued accumulation.
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