Strive raised capital this week to acquire 2,624 Bitcoin, a record-breaking weekly purchase for the firm. The move adds a significant amount of the cryptocurrency to its balance sheet.
Record weekly purchase
The 2,624 Bitcoin acquired this week marks the largest single-week Bitcoin purchase by Strive. The firm did not disclose the source of the capital or the price paid. Such a large acquisition typically requires coordination with multiple counterparties and custodians.
Capital raise details
Strive raised the capital specifically to fund the Bitcoin purchase. The terms of the capital raise were not made public. The firm has not commented on whether it plans additional purchases.
The acquisition comes amid a broader environment of institutional interest in Bitcoin. However, Strive's specific strategy remains undisclosed.
