Strive Buys 1,109 More Bitcoin at Average Price of $76,988
Summary
- Strive said it bought an additional 1,109 Bitcoin, spending about $85.4 million, at an average purchase price of $76,988.
- The purchase brought Strive’s Bitcoin holdings to 16,500 BTC, and the company said it posted a quarter-to-date BTC Yield of 11.0%% and a year-to-date BTC Yield of 23.4%%.
- CEO Cole also cited an amplification ratio of 45.2%%, and the market viewed the latest purchase as a signal easing concerns over slowing corporate Bitcoin demand.
Forecast Trend Report by Period
Strive bought an additional 1,109 Bitcoin, signaling that demand for corporate Bitcoin treasury strategies remains in place even as the token trades below $80,000.
Matt Cole, Strive’s chief executive officer, wrote in a post on X on May 26 that the firm spent about $85.4 million on the purchase. The average purchase price was $76,988 per Bitcoin.
The purchase lifted Strive’s Bitcoin holdings to 16,500 BTC. The company said its quarter-to-date BTC Yield was 11.0%, while its year-to-date BTC Yield reached 23.4%.
Cole added that Strive’s amplification ratio stood at 45.2%. The metric indicates how much the company magnifies its Bitcoin exposure through its equity or capital structure.
The latest purchase is being viewed as a sign that may ease concerns about slowing corporate Bitcoin demand. Continued outflows from spot Bitcoin exchange-traded funds and a pause in fresh buying by some large corporate holders had weighed on sentiment around institutional demand in the near term.
Still, small- and mid-sized Bitcoin treasury companies have continued buying during the pullback. Strive’s average purchase price was in the upper-$70,000 range where Bitcoin has recently traded, suggesting the company views current levels as an entry point for long-term holdings.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
