Strive overtakes Bullish after 1,800 BTC acquisition week
Strive (NASDAQ: ASST) has now jumped to the fifth spot among publicly traded corporate Bitcoin holders, leapfrogging Bullish (NYSE: BLSH) after a 1,800 token accumulation week pushed the firmโs stack to 23,156 BTC worth roughly $1.8 billion as of August 31.
The Dallas-based asset manager overtook Bullish as it continues to build up its Bitcoin stash, while the latter is on its way down.
Before the latest update to its balance sheet, Strive entered the final week of August with 21,356 BTC, per its August 24 filing with the SEC. At the time, Bullish held 22,000 BTC, with its 1,700 token sale at the end of June as its most recent transaction.
Both companies still rank behind MARA Holdings at 35,577 BTC and far behind Michael Saylorโs Strategy, which now holds 845,050 BTC after its first token purchase since June.
How did Strive fund its Bitcoin buying?
Strive has been steadily tapping equity issuance of common stock (ASST) and preferred stock (SATA) to power its Bitcoin accumulation strategy. SATA powers most of the firmโs buying activity when it trades near its $100 par value.
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