Strive Buys 1,110 More BTC, Trims Average Cost to $93,257
Strive expands bitcoin treasury to 21,356 coins despite $292 million unrealized loss.
Strive, a bitcoin treasury company, purchased 1,110 BTC last week for roughly $81.5 million, raising its total holdings to 21,356 coins. The acquisition is the firm's latest move to expand its digital asset reserve.
The purchase lowered Strive's average cost per bitcoin to $93,257 from $94,345, according to company data. Despite the lower average entry point, the firm's bitcoin reserve still carries a paper loss of more than $292 million at current market prices.
This buying pattern shows Strive continuing to accumulate bitcoin even when its existing stake remains underwater. The firm's average cost stays above the market price, indicating that earlier purchases were made at higher valuations.
Corporate bitcoin treasuries have become a notable trend, with some firms treating periodic price drops as buying opportunities. Strive's latest purchase aligns with that approach, prioritizing long-term accumulation over short-term price movements.