Strive, a Bitcoin treasury company, said this week it bought 1,110 Bitcoin, lifting its total holdings to 21,356 BTC. The announcement came with the stock trading higher on the Nasdaq.
The latest buy
Strive disclosed the acquisition Monday, though it didn't specify the price paid or the seller. The company has been steadily building its Bitcoin reserve as part of its core strategy. With this purchase, its stash now sits at 21,356 BTC.
Market reaction
Shares of Strive, listed on the Nasdaq under the ticker ASST, climbed following the news. The move indicates investors are willing to reward the company for continuing to pile into Bitcoin, a bet that has paid off for a handful of corporate treasurers.
Growing reserve
Strive now holds a sizable Bitcoin position. The company's approach to treasury management is simple: hold Bitcoin as a primary asset, avoid traditional cash reserves. That model has been gaining traction, and Strive's latest buy suggests it isn't slowing down.
Whether the company adds more remains an open question. For now, the treasury is above 21,000 BTC, and the stock is holding up.
