Strategy and Strive Scoop Up More Than 2,700 Bitcoin in a Week

According to Bitcoin Magazine, corporate bitcoin treasuries Strategy and Strive spent a combined $232.5 million to purchase more than 2,700 bitcoin last week. Strategy acquired 1,665 coins for $142.7 million, bringing its total holdings to 847,666 bitcoins valued at $70.5 billion based on a Securities and Exchange Commission filing. The company also bought back $152 million of its preferred stock, STRC, and announced plans to pay daily dividends on four preferred stocks: STRF, STRC, STRK, and STRD. Strive purchased 1,107 bitcoin for $94.5 million, raising its total holdings to 27,462 coins.

These acquisitions occurred despite struggles across the bitcoin treasury model, during which some entities sold holdings, folded, or shifted to AI infrastructure amid falling share prices. Strategy's stock, MSTR, has dropped over 50% in the past year, while Strive's stock, ASST, has fallen more than 30%. Nevertheless, executives defended their financial positions. Strive CEO Matt Cole stated the firm is debt-free with unencumbered bitcoin, while Strategy CEO Phong Le described prior bitcoin sales as the right trade to build a secure balance sheet. Bitcoin's price was recently near $83,409, marking a 3% decline over the week.