Strive buys 21 Bitcoin as Strategy raises $263.5M in equity

Shares of Strive, Inc. (ASST) rose significantly on Monday, July 20, following the company's announcement of an additional Bitcoin purchase. Concurrently, Strategy, the largest corporate holder of Bitcoin, reported it had made no new acquisitions of the cryptocurrency for a second consecutive week, instead raising hundreds of millions in capital through equity sales to bolster its cash reserves.

Strive disclosed in a U.S. Securities and Exchange Commission filing that between July 13 and July 17 it purchased 21 Bitcoin for approximately $1.3 million, bringing its total corporate holdings to 19,921 BTC. At current market prices, the holdings are valued at approximately $1.3 billion. The company also reported its cash and cash equivalents increased to $157.4 million during the same period. The purchase solidifies Strive's position as the seventh-largest publicly traded corporate holder of Bitcoin. The company has been systematically expanding its Bitcoin treasury since becoming a public entity through a merger and the all-stock acquisition of Semler Scientific, finalized earlier this year.

In contrast, Strategy, which holds 843,775 Bitcoin, reported no purchases or sales of the...