Abstract

Strive purchased 3,311 bitcoins between October 5th and October 9th, worth approximately $280 million, at an average price of about $84,500 per coin, which is the largest purchase since January of this year, raising their total holdings to 32,773 coins.

This transaction marks another significant increase in the company's recent aggressive holdings. Previously, it had purchased Bitcoin worth $169 million and $94.5 million respectively. The company's stock code is ASST. Recently, it also completed a merger with Semler Scientific to expand its balance sheet.

This move comes at a time when corporate reserve activities are active. Strategy, Solana related DeFi Development Corp, as well as Bitmine, have also recently increased their holdings. Meanwhile, Strive took the opportunity to buy in when Bitcoin fell significantly from its recent high points.

Strive is increasing its holdings of Bitcoin at the fastest pace this year, purchasing another 3,311 BTC for a value of approximately $280 million, setting a new record for its largest single purchase since January.

This asset management company, which is listed on NASDAQ, has the stock code ASST. In a document submitted on Monday, the company disclosed that it purchased the aforementioned Bitcoin from October 5th to October 9th at an average price of approximately $84,500 per coin, including fees. Following this purchase, Strive's total Bitcoin holdings increased to 32,773 coins. At current prices, these holdings are valued at about $2.73 billion, which is higher than the 29,462 coins held a week ago.

This purchase also sets a new record for its aggressive hoarding over the past period. Strive increased its holdings of Bitcoin by $169 million earlier this month, which was already its largest purchase in four months; in late September, the company also bought Bitcoin worth $94.5 million, bringing its holdings to over 27,000 coins.

Led by CEO Matthew Cole, Strive is one of the listed companies that adopt a Bitcoin reserve strategy. Such companies accumulate this asset through financing and link their own stock price performance to the trend of Bitcoin.

This model was initially promoted by Strategy under Michael Saylor, and subsequently attracted a large number of followers. Since Strive merged and went public with Asset Entities, it has been very active. Recently, it also completed the integration with Semler Scientific to expand its balance sheet. In addition to Bitcoin, the company also holds approximately 505,000 shares of STRC preferred stock in Strategy, valued at nearly $50 million, as well as about $310 million in cash.

This round of buying spree coincides with a period of frequent reserve activities across the industry. Strategy has recently repurchased preferred stocks and also made an additional purchase of $21.5 million in Bitcoin; Solana's reserve company DeFi Development Corp continues to increase its holdings of SOL; Bitmine continues to increase its holdings of Ethereum, although its chairman Tom Lee stated that the company is close to completing its buying plan and will stop purchasing once it holds 5% of the token supply.

This strategy also comes with the common risks associated with this category: the performance of Strive will fluctuate along with these assets, which are known for their high volatility. Buying on dips could lead to returns if Bitcoin rebounds; however, the same exposure could also have the opposite effect. For such reserve-oriented companies, the outside world has also been examining to what extent their stock premium depends on continuous increases in holdings.