Strive buys 1,800 Bitcoin for $143 million as treasury firms accumulate

Strive bought 1,800 Bitcoin for $143 million, lifting its treasury holdings to 23,156 tokens worth about $1.76 billion.

Chief Executive Officer Matt Cole announced the purchase on X on Aug. 31, saying the firm paid an average of $79,431 per Bitcoin. The acquisition extends a stretch of accelerating buys that has seen Strive add 1,110 tokens the prior week, according to a chart Cole posted.

The purchase landed on a day of heavy corporate accumulation. Strategy, the largest corporate Bitcoin holder, resumed buying after a roughly 10-week pause, adding 4,603 tokens for about $370 million between Aug. 24 and Aug. 30 to reach 845,050 Bitcoin worth roughly $66 billion. Bitmine, the former miner, bought 53,501 Ether, pushing its stash past 5.9 million tokens, or about 4.8 percent of the asset's circulating supply.

The coordinated buying comes as Bitcoin trades above $78,000, up 24 percent this month as of Aug. 28, its best month since 2025, driven by a short squeeze and U.S. Treasury buybacks of long-term securities. Treasury firms removing tokens from the market tightens available supply, and the pace of accumulation suggests institutional buyers see current levels as attractive. Strategy's market valuation relative to its Bitcoin holdings, or mNAV, has fallen to 1.06 from 3.89 in late 2024, a sign the market is pricing the treasury model with less of a premium.

The buying spree shows the corporate treasury model can still draw capital after a stretch of forced selling. Strategy sold Bitcoin near the cryptocurrency's low point earlier this year to replenish cash reserves, and peers including MARA Holdings and Empery Digital also offloaded tokens. With Bitcoin back above $78,000 and the month's gains holding, the question is whether the resumed accumulation marks a durable shift or a tactical entry.

This article is for informational purposes only and does not constitute investment advice.