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Strive surpasses Coinbase, becomes 7th-largest BTC treasury holder
The latest acquisition makes Strive the seventh largest public Bitcoin holder as shares rise more than 6%.
Strive disclosed Tuesday that it purchased an additional 1,109 Bitcoin for roughly $85.4 million, bringing its total holdings to 16,500 BTC and pushing the company ahead of Coinbase and Riot Platforms among public corporate Bitcoin holders.
The company acquired the Bitcoin at an average price of about $76,988 per coin. Strive reported an 11.0% quarter to date BTC Yield, a 23.4% year to date BTC Yield, and an amplification ratio of 45.2%, according to details shared by Strive CEO Matt Cole.
The purchase makes Strive the seventh largest public Bitcoin holder, according to BitcoinTreasuries data, placing it just above Coinbase, which holds 16,492 BTC, and Riot Platforms, which holds 15,680 BTC.
Riot reported in April that it ended the first quarter with 15,680 BTC after selling 3,778 BTC for $289.5 million, while Coinbase’s balance sheet holdings stand at 16,492 BTC, according to BitcoinTreasuries.
Shares of Strive were up more than 6% Tuesday morning, trading near $19.30, as the latest purchase reinforced the company’s push to expand its Bitcoin treasury strategy.