Strive buys 789 BTC, holdings reach 14,557 BTC; summit May 21

Strive Inc. purchased 789 Bitcoin for roughly $61.45 million at an average price of $77,890 per coin, the company said. The transaction was announced Monday and increases Strive’s treasury to 14,557 BTC, worth about $1.1 billion at recent prices.

Strive CEO and Chairman Matt Cole wrote on X that the lot was executed at the $77,890 average. With spot Bitcoin near $76,716 at the time of reporting, the new coins were worth roughly $60.5 million when recorded.

Strive is a publicly traded structured finance company and institutional asset manager with more than $2.7 billion in assets under management. Its most recent SEC filings show $90.5 million in cash and cash equivalents and $50.3 million in preferred stock issued by Strategy.

True North, Strive’s sub-brand that provides corporate Bitcoin education, has scheduled a Bitcoin for Business summit for May 21 in Lake Oswego, Oregon. The event is aimed at CFOs and business leaders evaluating corporate Bitcoin adoption. Jeff Walton, True North CEO and Strive chief risk officer, wrote in a statement: “Bitcoin and adjacent securities are transforming how businesses manage their treasuries. We aim to educate the business leaders of today about the financial landscape of the future.”

Strive’s stock (ASST) traded down about 3% on Monday at roughly $15.33. The shares have risen about 55% over the past month and are down about 53% over the last six months.

The purchase is part of a broader pattern of publicly traded companies adding Bitcoin to corporate treasuries. Public firms now hold more than 1.2 million BTC valued at over $93 billion. Separately, one large buyer reported a $255 million purchase of 3,273 BTC last week, a decline from a $2.54 billion acquisition the prior week. Strive’s latest purchase adds to ongoing corporate activity in the Bitcoin market.