Strategy and Strive Announce $182.7 Million Bitcoin Buy as Price Surges Past $86,000

According to reporting by Bitcoin Magazine, public companies Strategy and Strive announced a combined purchase of 2,305 BTC for $182.7 million. Strategy reported buying 950 bitcoins for $75.7 million in its first acquisition since August, while Strive acquired 1,355 BTC for $107.7 million. This announcement coincided with a surge in the price of bitcoin, which recently stood at $86,008 after hitting $86,282 earlier in the day, marking a 6% 24-hour increase.

Strategy, the largest corporate holder of bitcoin, holds 846,000 coins valued at $72.7 billion. The company also repurchased $174 million of its STRC perpetual preferred shares, having paused purchases earlier this year to buy back stock and build cash reserves. Meanwhile, Nasdaq-listed Strive is now the fifth largest corporate holder with 26,355 BTC valued at $2.2 billion.

The price surge occurred despite the Clarity Act getting blocked and the Federal Reserve raising interest rates, with investors shrugging off the central bank's move. Bitcoin's price remains over 30% below its October all-time high of $126,080.