Strategy and Strive, two of the largest corporate holders of bitcoin, announced significant purchases last week as bitcoin treasuries resume loading up on the digital asset.
Strategy, the Nasdaq-listed company with the largest corporate bitcoin holdings, bought 1,665 coins for $142.7 million in the latest week, marking its second consecutive purchase after a brief pause. The company also repurchased $152 million in its preferred stock, STRC. According to an SEC filing, Strategy now holds 847,666 bitcoins valued at $70.5 billion.
Strive, the fifth-largest bitcoin treasury, acquired 1,107 BTC for $94.5 million during the same period, bringing its total holdings to 27,462 coins.
The continued accumulation occurs despite challenges facing the broader bitcoin treasury model. Several major holders including Satsuma, Smarter Web Company, Sequans, Nakamoto, and Empery Digital have sold bitcoin this year to repay debt, fund operations, finance buybacks, or pivot to alternative business strategies as their share prices declined.
Strategy stock (MSTR) has lost more than 50% of its value over the past year, while Strive stock (ASST) is down more than 30% during the same period.
Despite the stock performance, both companies have signaled confidence in their strategies. Strive CEO Matt Cole has emphasized the company's debt-free status, zero margin requirements, and zero encumbered bitcoin. Strategy CEO Phong Le has characterized the company's recent bitcoin sales as prudent moves that strengthened its balance sheet. Strategy announced plans to pay daily dividends on four of its preferred stocks: STRF, STRC, STRK, and STRD.
Bitcoin was trading near $83,409 at the time of the announcements, down 3% over the preceding week.
