Strive buys $81.5M of Bitcoin

• Strive bought 1,110 Bitcoin for US$81.5 million between 17 and 21 August.
• Its Bitcoin holdings rose 5.5%, reaching 21,356 BTC worth about US$1.7 billion.
• The company issued new common and preferred shares while continuing its Bitcoin treasury strategy.

Strive Asset Management bought 1,110 Bitcoin (CRYPTO:BTC) for US$81.5 million between 17 and 21 August.

The purchase lifted Strive’s Bitcoin holdings from 20,246 BTC to 21,356 BTC during the week.

Strive paid an average of US$73,409 per Bitcoin, including fees and expenses, according to its 24 August SEC filing.

The company also issued 3,646,300 Class A shares and 441,313 SATA preferred shares during the period.

Strive’s Bitcoin per fully diluted share increased by about 1.4%, despite its total Bitcoin holdings rising 5.5%.

Strive ended 21 August with US$171.9 million in cash and equivalents, up from US$154.8 million a week earlier.

The latest purchase adds to a growing group of public companies using Bitcoin as a treasury asset, including Strategy and Japan’s Metaplanet.

At the time of reporting, Bitcoin price was $78,894.01.