Strive increases bitcoin holdings to over 21,000 coins through major purchase

Dallas company Strive Inc. bought 1,110 bitcoin between August 17 and 21, spending around $81.5 million. The average price per coin was $73,409. Strive now holds 21,356 bitcoin in total, which places it among the biggest public companies owning the cryptocurrency. The money for the purchase came from selling new shares to investors. After the deal, Strive still had about $171.9 million in cash. CEO Matt Cole said the bitcoin bear market, a period when prices fall, has now ended. Strive's stock rose 11.25% to $20.27 on the day the news came out. Over the previous 30 days, the share price had already climbed around 76%, from $11.49 to above $20.