Publicly traded Strive Inc. purchased an additional 789 Bitcoin for its treasury, the structured finance company and institutional asset manager announced Monday.
The company paid an average price of $77,890 per Bitcoin, Strive CEO and Chairman Matt Cole wrote on X, putting the purchase at a price of about $61.45 million. Bitcoin has fallen to a recent price of $76,716, making the addition worth about $60.5 million as of this writing.
The purchase expands Strive's total Bitcoin holdings to 14,557 BTC, valued at approximately $1.1 billion based on the recent price of Bitcoin.
Alongside the treasury expansion, Strive's True North subsidiary scheduled a Bitcoin for Business summit for May 21 in Lake Oswego, Oregon. The event targets CFOs and business leaders exploring corporate Bitcoin adoption strategies.
"Bitcoin and adjacent securities are transforming how businesses manage their treasuries," said True North CEO and Strive Chief Risk Officer Jeff Walton, in a statement. "We aim to educate the business leaders of today about the financial landscape of the future."
Publicly traded firms hold more than 1.2 million Bitcoin valued above $93 billion, per data from BitcoinTreasuries.net, led by Strategy with its nearly $63 billion haul. Strategy said Monday that it bought $255 million in Bitcoin last week, down dramatically from a $2.54 billion purchase the week prior.
Strive manages over $2.7 billion in assets as a publicly traded structured finance company and institutional asset manager. The firm's True North sub-brand provides corporate Bitcoin curriculum and hosts educational events for businesses exploring cryptocurrency integration.
As of April 24, Strive maintained $90.5 million in cash and cash equivalents alongside $50.3 million in Strategy preferred stock holdings, according to SEC filings. The company's latest Bitcoin purchase represents a continuation of its aggressive treasury diversification strategy.
Strive’s stock (ASST) was down about 3% on Monday, recently trading at $15.33. ASST shares have surged by 55% over the last month, though shares are down 53% in the last six months.
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