Daily News 19

Tag: Strategy Bitcoin purchase

  • Strive Adds $143 Million in Bitcoin as Treasury Firms Return to the Market

    Strive Adds $143 Million in Bitcoin as Treasury Firms Return to the Market

    Strive has purchased another 1,800 Bitcoin worth approximately $143 million, continuing its aggressive cryptocurrency accumulation strategy and expanding one of the largest corporate Bitcoin treasuries.

    CEO Matt Cole said Monday that Strive paid an average of $79,431 per Bitcoin for the latest purchase. The transaction brings the company’s total holdings to 23,156 BTC, valued at approximately $1.76 billion at the reference price cited in the disclosure.

    Strive expands Bitcoin treasury strategy

    The purchase follows Strive’s recent $81 million Bitcoin acquisition alongside a share sale. The company trades on the Nasdaq under the ticker ASST after merging with Asset Entities earlier this year.

    Strive was initially co-founded by entrepreneur-turned-politician Vivek Ramaswamy. It is among a growing group of public companies that have adopted Bitcoin treasury strategies, raising capital to accumulate the asset and link their financial performance to its price.

    The approach was pioneered by Michael Saylor’s Strategy and has attracted numerous imitators over the past year. However, corporate Bitcoin treasury strategies carry significant risk because of the cryptocurrency’s volatility.

    Corporate crypto buying resumes

    Strive’s latest purchase comes amid renewed buying across the sector as Bitcoin has rallied. Strategy ended an approximately two-month pause with a $370 million Bitcoin purchase this week, its first since June, after a market recovery pushed its position back into profit.

    Tom Lee’s Bitmine also made its largest Ethereum purchase since June, highlighting how crypto treasury companies have resumed accumulation as prices recovered.

    Bitcoin traded at around $78,600 on Monday, slightly lower on the day but on track to finish August with a gain of more than 24%, which would make it the cryptocurrency’s strongest month since 2017.

    Strive’s average purchase price for the latest tranche is slightly above current market levels, leaving the new Bitcoin investment roughly at break-even for now.

  • Bitcoin Ready for Its Next Rally, Top Trader Says

    Bitcoin Ready for Its Next Rally, Top Trader Says

    Bitcoin may be positioning for another move higher after holding key support despite a sharp intraday sell-off, according to prominent crypto trader DonAlt.

    “Looks like we’re gonna get another leg up soon,” DonAlt said in a post on X on Aug. 31.

    The outlook comes as Bitcoin enters September following an unusually strong August and a powerful third-quarter recovery. The largest cryptocurrency has climbed sharply from around $64,700 earlier in the month. Recent price action shows $BTC consolidating near $78,000 after briefly approaching $81,000.

    Bitcoin holds support after sharp sell-off

    Bitcoin briefly moved above $80,000 in late August before retreating toward $77,000. Instead of extending its decline, however, the cryptocurrency stabilized and began to recover, suggesting that buyers remain active below $78,000.

    Bitcoin recently suffered an almost 6% intraday decline after Federal Reserve governor Kevin Warsh adopted a more hawkish tone, according to Bitfinex. The cryptocurrency nevertheless held near $77,100.

    Strategy buys another 4,603 Bitcoin

    Strategy, the Michael Saylor-led business intelligence company that has made Bitcoin the centerpiece of its treasury strategy, purchased another 4,603 $BTC for approximately $369.7 million. The purchases took place between Aug. 24 and Aug. 30 at an average price of $80,318.

    The acquisition shows that Strategy continued buying despite considerable Bitcoin volatility toward the end of the month. Whale activity has also remained elevated. Whale Alert reported the transfer of 1,922 $BTC, worth approximately $149.7 million, between two unidentified wallets on Aug. 31.

    Large cryptocurrency transfers do not necessarily indicate buying or selling. They can also reflect internal wallet movements, custody changes or other forms of repositioning.

    Bitcoin posts one of its strongest August performances

    Bitcoin’s technical setup comes as the cryptocurrency closes one of its strongest months in years.

    Bitcoin’s third-quarter return currently stands at approximately 32.48%, substantially above its historical average Q3 return of 7.94%. The performance is particularly notable because it follows two consecutive quarterly declines: a 22.2% loss in Q1 and a 14.09% decline in Q2.

    Analysts remain divided over a sustained Bitcoin rally

    Despite the increasingly bullish technical picture, some analysts remain skeptical that Bitcoin has entered a new sustained bull market.

    Mike McGlone, a longtime Bitcoin bear, argued that the cryptocurrency continues to face significant macroeconomic headwinds. He cited Federal Reserve policy, competition across the broader crypto market and Bitcoin’s growing correlation with equities as reasons for caution.

    As a result, the $80,000-$81,000 range could become a major test for Bitcoin bulls.

  • Strive Buys Another 1,800 Bitcoin, Pushing Holdings Above 23,000 BTC

    Strive Buys Another 1,800 Bitcoin, Pushing Holdings Above 23,000 BTC

    Strive has added another 1,800 Bitcoin to its corporate treasury in a purchase worth $143 million, according to CEO Matt Cole. The company paid an average of $79,431 per Bitcoin, increasing its total holdings to 23,156 BTC.

    At Bitcoin’s price of approximately $78,000 at press time, Strive’s cryptocurrency holdings are valued at about $1.76 billion.

    Strive acquired an additional 1,800 $BTC for $143M at an average cost of $79,431 per bitcoin, bringing total holdings to ₿23,156.$ASST $SATA pic.twitter.com/6ztKhC4PFF
    — Matt Cole (@ColeMacro) August 31, 2026

    Strive accelerates Bitcoin accumulation

    Strive has increased the pace of its Bitcoin purchases in recent months. The company added another 1,110 BTC last week, as previously reported.

    Cole also published a chart on X showing Strive’s acquisitions over roughly the past year. The chart indicates that the company has completed an increasing number of Bitcoin purchases since March.

    Strategy and Bitmine also expand crypto holdings

    Strive’s latest purchase is the third major cryptocurrency acquisition announced by a prominent company today.

    Strategy resumed its Bitcoin buying after a two-month pause, spending $370 million to acquire 4,603 BTC.

    Bitmine also expanded its cryptocurrency portfolio by purchasing 53,501 ETH. The former Bitcoin miner’s total Ethereum holdings have now surpassed 5.9 million ETH, representing 4.8% of the asset’s circulating supply.

    If you want to learn more about Strategy’s latest moves or the broader cryptocurrency market, watch our video below.

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