Strive Becomes Fifth-Largest Bitcoin Treasury, Stock Jumps on Latest Buy
Bitcoin Magazine
Strive Becomes Fifth-Largest Bitcoin Treasury, Stock Jumps on Latest Buy
Strive’s stock soared on Monday after the company announced a $143 million bitcoin buy, making it the fifth biggest publicly traded crypto treasury.
The Nasdaq-listed company announced its latest buy of 1,800 bitcoins between August 24 and August 28. It snapped up the coins for an average price of $79,431, according to a filing with the Securities and Exchange Commission.
The Dallas, Texas-based company now holds 23,156 coins worth $1.8 billion at today’s prices. Its stock (NASDAQ: ASST) was trading 9% higher at about 12.30pm in New York. Year-to-date, Strive’s stock has risen by nearly 40%.
Strive’s year-to-date Bitcoin yield, a metric that compares growth in bitcoin holdings relative to share count, reached 40.8% as of its Aug. 28 filing, up from less than 37% in early June.
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