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Strive adds 1,800 BTC to jump to fifth-largest public bitcoin treasury

The Block says Strive bought about $143 million of bitcoin from Aug. 24 to Aug. 28, lifting total holdings to 23,156 BTC and helping push the company ahead of Bullish.

Reported · Written up by our desk · Market Structure

Strive’s treasury purchase has boosted the company into the No. 5 spot among publicly traded corporate bitcoin holders after it bought an additional 1,800 BTC, The Block reported. The Block said the latest move followed a roughly 10-week pause in Strategy’s bitcoin buying, with Strive adding 4,603 BTC last week.

According to The Block, Strive purchased bitcoin between Aug. 24 and Aug. 28 for roughly $143 million at an average price of $79,431, bringing total holdings to 23,156 BTC based on a Form 8-K filing released Monday. The report said the acquisition was enough to surpass crypto exchange Bullish for the fifth-largest publicly listed treasury, citing Bitcoin Treasuries.

The Block also said TD Cowen lifted its price target on Strive’s ASST shares by more than 14% to $32 from $28 while keeping a Buy rating. The firm linked the change to treasury activity that meaningfully exceeded its previous model, and noted ASST was trading up about 6% to $23 in Monday morning trading, with the stock up nearly 165% over the past six months.

Looking ahead, The Block reported TD Cowen now expects Strive to buy nearly 4,300 BTC in the third quarter, more than 180% above its prior forecast of 1,500 BTC, followed by another 3,000 bitcoins in the fourth quarter. The report said Strive’s year-to-date BTC yield reached 40.8% as of its Aug. 28 filing, up from less than 37% in early June.

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