Bitcoin News: Strive Buys $81.5M in BTC as Price Moves Closer to $80K

Strive increased its corporate Bitcoin treasury by 1,110 BTC last week as Bitcoin price recovered toward $80,000. The company spent approximately $81.5 million and paid an average of $73,409 per coin, including fees and expenses.

The purchase lifted Strive’s total holdings to 21,356 BTC as of Aug. 21. ASST shares also extended their recent rally Monday, closing near $19.73 after gaining more than 8%.

Bitcoin News: Strive Lifts Holdings to 21,356 BTC

Strive disclosed the purchase in an August 24 Form 8-K filed with the U.S. Securities and Exchange Commission. The company increased its Bitcoin position from 20,246 BTC on August 14 to 21,356 BTC on August 21. That change represents an increase of about 5.5% in one week and keeps Bitcoin at the center of Strive’s corporate treasury strategy. The filing records the purchase price as inclusive of fees and expenses.

The latest transaction also places Strive among the largest public corporate holders of Bitcoin. Bitcoin Treasuries data ranks the company seventh among public companies by BTC holdings. Strategy leads the group with 840,447 BTC, while several other listed companies also hold more than 20,000 BTC. Strive has continued to add Bitcoin through capital-markets activity while maintaining cash and other liquid assets on its balance sheet.

Strive Adds Cash While Share Count Rises

Strive reported $171.9 million in cash and cash equivalents as of August 21, up from $154.8 million one week earlier. The fair value of its 505,000 shares of Strategy’s STRC preferred stock also increased to $48.57 million from $47.86 million. Strive did not change the number of STRC shares it held during the period, while the market value of that position increased by about $707,000.

The Bitcoin news also showed changes in Strive’s capital structure. Class A common shares outstanding rose by 3.65 million to 79.89 million, while SATA preferred shares outstanding increased by 441,313 to 8.27 million.

Class B common shares stayed at 9.79 million. Effective common shares outstanding reached 89.68 million, compared with 86.04 million a week earlier.

ASST Stock Extends Its Weekly Advance

ASST shares traded around $19.70 on Monday, up about 8% during the session, according to market data. The stock had closed Friday at $18.22 after gaining 12.96% that day. Friday volume reached about 14.98 million shares. ASST also posted gains on August 19 and August 20, extending a multi-session rise before Strive announced the latest Bitcoin purchase on Monday.

SATA, Strive’s variable-rate perpetual preferred stock, closed Friday near its $100 par value. Market data placed the preferred shares at $100.01 at the August 21 close. Strive lists both ASST common shares and SATA preferred shares on Nasdaq. The company started paying SATA dividends every business day in June and had completed 44 consecutive daily payments by August 7.

Bitcoin Price Prediction: BTC Trades Near the $80K Mark

Bitcoin price also moved closer to $80,000 after a strong weekly advance. BTC crypto ended the latest week at $77,387, gaining $14,264, or 22.7%, over seven days. On Monday, Bitcoin price traded around $78,880 and remained within reach of the $80,000 area after moving above during the recent rally. The move followed several sessions of higher prices after BTC traded in the mid-60,000 range earlier in the week.

Short-term price action has shifted into a tighter range after Bitcoin’s rapid move higher. Recent chart data places nearby resistance around $80,700 to $82,700, while the $72,000 to $74,400 zone sits below the market as a previously reclaimed area.