Strive bought another 1,109 Bitcoin, raising its total holdings to 16,500 BTC. The latest Strive Bitcoin purchase shows the asset manager is continuing its treasury expansion while adding more crypto exposure to its balance sheet.
CEO Matt Cole shared the update on X. He said the company paid approximately $85.4 million on May 22 for the purchase at average prices of nearly $76,988 per Bitcoin.
With the acquisition, Strive Bitcoin expanded its holdings of Bitcoin from 15,391 BTC to 16,500 BTC. According to Bitcoin Treasuries data, the company now ranks as the seventh-largest public Bitcoin holder, above Coinbase and below Bullish.
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Strive Bitcoin Buying Spree Adds More BTC to Treasury
Strive is said to have made the acquisition of the additional 1,109 BTC in its internal company snapshot. The update also revealed the firm’s overall balance sheet position following the most recent transaction.
The new Strive Bitcoin acquisition comes after another purchase that took place earlier in May. The company purchased 382 BTC on May 18th for approximately $30 million and at an average price of $79,348 per Bitcoin.
That previous deal brought its positions to 15,391 BTC. At the time, the total position was valued near $1.2 billion based on market prices cited in the company’s update.
Strive also added Bitcoin in April. The firm bought 444 BTC for about $33.9 million at an average price of $76,307 per coin.
Before that, the company acquired 789 BTC. It was acquired at an average price of $77,890 per Bitcoin, and the total purchase price came in at just over $61 million.
Cash Reserves Rise as BTC Accumulation Continues
The repeated buying shows a clear Strive Bitcoin accumulation plan. The company has been purchasing BTC in a more gradual manner than a single large purchase.
Strive also reported increased cash balances. Its cash and cash equivalents added up to $93.3 million compared to $87.3 million.
The company also upped its stake in STRC preferred stock of Strategy Inc. That position now stands at more than $50 million, according to the reported figures.
Strive raises capital from investors and markets to fund the buying of Bitcoins. Its strategy is not solely dependent on the operating profit.
One funding source is an at-the-market (ATM) program. This can make it easier for the business to sell its shares over time when market conditions are good for a capital raising.
Strive Bitcoin Treasury Model Relies on Preferred Stock
As of press time, Bitcoin trades at $76,026.45. The asset was down 1.78% in 24 hours and 1.15% over the past seven days, as per CoinMarketCap.
Variable Rate Series A Perpetual Preferred Stock (SATA) is being used by Strive. It pays approximately 13% dividend.
That yield is designed to attract income-focused investors. The proceeds of the sale are then reinvested into buying more Bitcoin.
Strive came into existence as a result of a reverse merger in 2025. Under the transaction, the company merged Strive Asset Management into Asset Entities under the ticker ASST.
The company has since established itself as a treasury company with a focus on bitcoin. It has said its strategy is to keep bitcoin as a balance sheet asset.
The recent Strive bitcoin update reinforces that position. It also elevates the company in the ranks of the public companies with significant Bitcoin treasuries.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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