Strive Continues Stacking BTC But There’s a Catch

Strive, the Matt Cole-led company, announced it had bought 124 bitcoin for $10 million in the past week, at an average price of $80,526, bringing its total holdings to 43,124 BTC. The purchase followed its largest bitcoin acquisition to date a week earlier, when it added 6,182 BTC for more than $511 million. An SEC filing showed Strive’s cash and cash equivalents fell to $490.4 million from $504.4 million, consistent with its statement that existing cash covered most of the purchase. The company also said its SATS ATM was used for the first time and represented all of its weekly ATM proceeds.