Strive Buys $280 Million in Bitcoin, Its Largest Purchase in Months — SkimNews
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- Strive bought 3,311 BTC for ~$280 million between Oct. 5 and Oct. 9 at an average price of ~$84,500 per coin — its largest single purchase since January — lifting total holdings to 32,773 BTC worth roughly $2.73 billion at current prices.
- The buy follows $169 million (earlier October) and $94.5 million (late September) purchases, with Strive picking up Bitcoin well below recent highs near $87,000 during a rough week for the token.
- Beyond BTC, Strive holds ~505,000 shares of Strategy's STRC preferred stock (~$50 million) and ~$310 million in cash; it trades as ASST, went public via its Asset Entities merger, and recently completed a tie-up with Semler Scientific to bulk up its balance sheet.
- The purchase lands amid broader treasury activity: Strategy added $21.5 million in Bitcoin, Solana firm DeFi Development Corp. kept stacking SOL, and Bitmine — which chairman Tom Lee said will halt purchases once it holds 5% of ETH supply — continued accumulating Ethereum.
- Strive's fortunes are tied to a notoriously volatile asset, and the source flags that Bitcoin-treasury firms have faced scrutiny over how much their stock premiums depend on continued accumulation.
Why it matters: Strive bought its largest tranche since January at ~$84,500 — well below recent highs near $87,000 — showing the firm is deliberately using price dips to accelerate accumulation, and still has ~$310 million in cash plus a freshly bulked-up balance sheet from the Semler Scientific merger. The flip side the source flags: treasury-firm stock premiums depend on relentless buying, and Bitcoin's volatility cuts both ways.
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