Strategy and Strive Add 935 BTC as Bitcoin Stays Below $80K
Strategy and Strive bought a combined 935 BTC worth about $75.5 million, extending their corporate Bitcoin holdings as prices weakened. Strategy acquired 811 BTC for $65.5 million at an average price of $80,846, bringing its total to 849,327 BTC. It funded the purchase through MSTR share sales and separately repurchased $208.2 million of STRC preferred shares. Strive bought 124 BTC for about $10 million at an average price of $80,526, taking its holdings to 43,124 BTC. Bitcoin traded near $77,700 on November 2, below both companies’ latest purchase prices. The buying followed a week in which BTC fell about 3.6%, amid broader market pressure and reports of a $6.3 billion Binance security breach. The purchases point to continued corporate demand for Bitcoin, but are modest relative to the market and have not reversed price weakness. Strategy also reported $19.5 billion in third-quarter net income, largely from a non-cash accounting gain as Bitcoin prices rose during the quarter.
Neutral
The purchases provide a modest positive signal: Strategy and Strive are continuing to add Bitcoin even as prices fall, which may reinforce confidence in long-term corporate demand. However, the combined $75.5 million purchase is small relative to Bitcoin’s market and trading volume, so it is unlikely to drive a sustained price rebound on its own. In the short term, BTC trading below both firms’ average purchase prices, the reported Binance security incident and recent weekly losses may weigh more heavily on sentiment and encourage caution. Historically, corporate treasury purchases can support sentiment, but their price effect depends on scale, follow-through and wider market conditions. Over the longer term, continued accumulation could add to the perception of institutional demand, while the reported purchases alone do not change the broader market trend. On balance, the news is neutral for Bitcoin’s price.