Strive buys 1,110 Bitcoin for $81.5M, ASST shares jump 11%
Strive, the Nasdaq-listed Bitcoin treasury company, bought 1,110 BTC for about $81.5M last week, according to a U.S. SEC filing. The company paid an average of $73,409 per Bitcoin (including fees and expenses) for purchases made Aug. 17–Aug. 21, lifting holdings to 21,356 BTC.
The news comes as Strive’s cash and cash equivalents rose $17.1M to $171.9M, while Class A shares outstanding increased to 79.89M. Bitcoin was trading near $79,000 on Monday, roughly 8% above Strive’s average purchase price.
Strive’s ASST shares surged more than 11% in Monday trading, with the stock up about 36% year-to-date. CEO Matt Cole framed the move as Bitcoin becoming a “scarcity trade” and said the strategy is designed to amplify upside.
In the broader corporate-Bitcoin landscape, Strive moved to the seventh-largest publicly traded corporate BTC holder (ahead of SpaceX and behind Bullish), using BitcoinTreasuries.NET ranking.
Strive also continues its preferred-income product, SATA (variable-rate perpetual preferred stock), returning to its $99–$101 trading range after previously dropping in late June. SATA targets a near-$100 price via variable dividends (now shifted to daily payments).
Bullish
This is bullish because a publicly traded corporate buyer added 1,110 BTC at an average ~$73.4k, while Bitcoin was ~8% higher at the time of reporting. That combination can reinforce the market’s “institutional/treasury” narrative and tighten perceived near-term supply, often supporting price momentum.
Traders have seen similar dynamics in past corporate treasury cycles (e.g., when MicroStrategy-style buyers announce new purchases). Even when the purchase price is below the day’s market, the headline usually drives optimism around persistent demand rather than focusing solely on short-term average cost.
Short term: the direct catalyst is the ASST +11% move, which can attract momentum flows and index/ETF-adjacent interest in corporate-BTC equities.
Long term: if Strive’s treasury strategy continues scaling holdings toward larger rankings, it may strengthen confidence that BTC demand is becoming more rule-based and recurring. The impact is somewhat tempered by the fact that BTC pricing still largely drives valuation, and preferred-income instruments like SATA can matter more for equity income flows than for BTC fundamentals.