Strive Buys More Bitcoin While Sitting on a $292 Million Paper Loss

Strive, a treasury firm that holds Bitcoin on behalf of its shareholders, added 1,110 BTC to its reserve between August 17 and 21, spending about $81.5 million. The acquisition raised the total holdings to 21,356 BTC and lowered the average acquisition cost to $93,257 per coin, down from $94,345.

Purchase Details

• Amount bought: 1,110 BTC
• Total spend: ~ $81.5 million
• Average price paid (including fees): $73,409 per BTC
• Resulting average cost basis: $93,257 per BTC

Historical Context

This is Strive’s largest purchase since June 1, when it added 2,499 BTC. The firm disclosed the transaction in an SEC Form 8‑K filing on August 24. Earlier in August, Strive bought 147 BTC and 79 BTC in two smaller purchases, spending a combined $14.5 million.

Overall Treasury Position

• Total BTC held: 21,356
• Cumulative spend since September 2025: $1.99 billion across 29 purchases
• Current market value of the reserve: ~ $1.70 billion
• Paper loss: > $292 million (approximately 14.66% below cost)
• Break‑even price needed: $93,257 per BTC, requiring a ~17% price increase from the $79,787 level at press time

Management Commentary

CEO Matt Cole stated that he believes the Bitcoin bear market has ended, citing recent breakouts of Bitcoin against both the US dollar and gold. He expressed confidence in the asset’s performance over the next 12 to 18 months.

Comparison with Peer Strategy

In contrast, peer firm Strategy raised $3.28 billion through a stock offering in August and has not purchased Bitcoin, instead selling 6,916 BTC since its last buy on June 22. Strategy’s average cost of $75,385 per BTC remains below current market levels, keeping that position profitable.