Strive surpasses Coinbase, becomes 7th-largest BTC treasury holder
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.
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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.
