Strive added another 1,109 bitcoin to its corporate treasury last week, bringing its total hoard to 16,500 BTC. The purchase, valued at roughly $85 million, is the latest in a string of aggressive buys as the firm explores new ways to raise capital for its Bitcoin-linked strategy. The news sent shares of the fund ASST — heavily tied to Strive's treasury moves — soaring 133%.
Another big buy
This isn't a one-off. Strive now holds 16,500 bitcoin, a position built over months of steady accumulation. The latest 1,109 BTC tranche, acquired during the week of May 21, came at an average price in line with the $85 million price tag. The company hasn't disclosed the exact purchase price per coin, but the scale signals conviction — or at least a belief that Bitcoin's current range is a buying opportunity.
ASST's wild ride
The fund ASST, which tracks Strive's Bitcoin treasury strategy, surged 133% on the news. That's a massive move for a single week, and it reflects how tightly ASST's performance is tied to Strive's buying activity. Investors betting on Strive's continued accumulation got a quick payoff. Whether the rally holds is another question — the fund remains highly volatile and thinly traded.
More firepower ahead
Strive is also reviewing new capital-raising tools to expand its Bitcoin treasury further. The company didn't specify whether that means a debt offering, equity issuance, or something else. But the message is clear: they want more bitcoin, and they're lining up the cash to get it. No timeline was given, but the review is active, according to people familiar with the matter.
For now, Strive sits on 16,500 BTC — roughly $1.3 billion at current prices. The next buy could come any week.
