Strive Adds 2,500 Bitcoin for $185M, Total Holdings Reach 19,000 BTC
Strive Asset Management (ASST) acquired 2,500 bitcoin for approximately $185.2 million at an average price of $74,092 per coin between May 23 and June 1, according to an SEC filing. This purchase, made during a price dip, brings Strive's total bitcoin holdings to 19,000 BTC, placing it among the top 10 publicly traded corporate holders. The company reported a quarter-to-date BTC yield of 23.0% and a year-to-date yield of 36.7%, indicating per-share bitcoin growth outpacing price appreciation. Strive also raised cash reserves to maintain an 18-month dividend reserve. The acquisition follows Strategy's (MSTR) first publicized sale of 32 bitcoin for $2.5 million, which sparked a market selloff. Benchmark analyst Mark Palmer initiated coverage of Strive with a Buy rating and a $32 price target, implying 93% upside despite a 3.59% pre-market decline in Class A shares to $16.58.
Key facts
- Strive bought 2,500 BTC for ~$185.2M at avg $74,092 per coin.
- Total holdings rise to 19,000 BTC, ranking top 10 corporate holder.
- Quarter-to-date BTC yield 23.0%, year-to-date 36.7%.
- Strategy sold 32 BTC for $2.5M, triggering market selloff.
- Benchmark initiated Buy rating, $32 price target (93% upside).