Strive, the Nasdaq-listed asset manager trading under ticker ASST, purchased 3,311 BTC worth approximately $280 million between October 5 and October 9, marking its largest single acquisition since January. The purchase was executed at an average price of about $84,500 per coin, including fees.
The buy lifts Strive's total Bitcoin holdings to 32,773 BTC, valued at roughly $2.73 billion. The purchase comes as the company completes an aggressive accumulation streak, having added $169 million in Bitcoin earlier in October and $94.5 million in late September.
Strive timed the purchase as Bitcoin declined through a difficult week, acquiring coins at prices well below the asset's recent highs near $87,000. The firm, led by CEO Matthew Cole, recently completed a merger with Semler Scientific to strengthen its balance sheet and also holds approximately 505,000 shares of Strategy's STRC preferred stock valued near $50 million, along with roughly $310 million in cash.
The buying activity reflects broader treasury strategies adopted by public companies seeking to stockpile Bitcoin and tie their share performance to the asset. The model, pioneered by Strategy, has drawn other participants including Solana treasury firm DeFi Development Corp. and Bitmine, which has been accumulating Ethereum.
Bitcoin treasury strategies carry inherent volatility risk. While purchases made during price dips can generate gains if the asset rebounds, the same exposure creates downside risk, and treasury firms have faced scrutiny regarding how much their stock valuations depend on continued accumulation.
