Bitcoin treasury companies Strive and Strategy stepped up their accumulation on Monday, helping underpin a rally that pushed BTC back above $85,000 for the first time since January. Strive Chairman and CEO Matt Cole said the firm bought 1,355 BTC in the past week for $107.7 million, at an average price of roughly $79,475 per coin. The purchase brought Strive’s total to 26,355 BTC, a position worth more than $2.2 billion after bitcoin’s surge. Warrant exercises began last week, generating $21.2 million in gross proceeds, and including those proceeds, 57.7% of total capital raised came from SATA.
Strategy, led by Michael Saylor, disclosed in an 8-K filing that it acquired 950 BTC for $75.7 million at an average of $79,670 per coin including fees. The company now holds 846,000 BTC, bought for $63.80 billion at an average of $75,416, leaving it within 1,363 coins of its June 22 record of 847,363 BTC. Strategy has added 5,553 coins since its summer low of 840,447 BTC on August 10, after sales made under the June capital framework.
Strategy also spent $174.0 million repurchasing 1,771,238 STRC preferred shares, up from $139.3 million the prior week. Its USD Cash pool fell to $1.05 billion from $1.30 billion, and no stock was sold under the at-the-market program. Bitcoin traded around $85,264, up more than 9% over 24 hours, marking a rebound of about $10,000 in less than a week from the $75,000 area that followed the failed Senate vote on the CLARITY Act and a Federal Reserve rate hike.
