Strategy and Strive buy 2,773 bitcoin between them
Strategy added 1,665 coins for $142.7 million and Strive bought 1,107 for $94.5 million, even as several corporate treasuries sell holdings and share prices fall.
Key points
- Strategy bought 1,665 bitcoin last week for $142.7 million, its second purchase in a row
- Strategy also repurchased $152 million of its STRC preferred stock and now holds 847,666 bitcoin
- Strive bought 1,107 bitcoin for $94.5 million, taking its holdings to 27,462 coins
- Strategy stock is down more than 50% over the past year, while Strive is down over 30%
- Bitcoin traded near $83,409, down 3% over the week, according to the report
Strategy and Strive kept buying bitcoin last week, spending a combined $232.5 million on 2,773 coins, Bitcoin Magazine reports. The purchases came as the corporate bitcoin treasury model faces pressure from falling share prices and debt repayments elsewhere in the sector.
Strategy, the largest corporate holder of bitcoin, said on Monday that it had bought 1,665 coins for $142.7 million. That was its second purchase in a row after a brief pause in buying. The Nasdaq-listed company also repurchased $152 million of its STRC preferred stock, according to a filing with the Securities and Exchange Commission.
Strategy now holds 847,666 bitcoin, a stack the report values at $70.5 billion. The company has defended its decision to sell some bitcoin this year. Chief executive Phong Le has said the sales left it with a balance sheet he described as bullet-proof, and that selling was the right trade at the time.
Two treasuries keep buying
Strive, the fifth largest bitcoin treasury, bought 1,107 bitcoin last week for $94.5 million. That lifted its total holdings to 27,462 coins. Chief executive Matt Cole has repeatedly said the company carries no debt, has zero margin requirements and no encumbered bitcoin, describing a balance sheet built to thrive through volatility.
The buying stands out because other major treasuries have moved in the opposite direction. Strategy, Satsuma, Smarter Web Company, Sequans, Nakamoto and Empery Digital have all sold bitcoin this year to repay debt, fund operations or finance buybacks. Others have folded or pivoted to AI infrastructure as their share prices collapsed.
Investors have marked the sector down. Strategy stock has lost more than half its value over the past year, and Strive is down by more than 30% over the same period. Both companies have told investors that it is business as usual and that bitcoin will recover.
Strategy adds 1,665 coins
Strategy also said last week that it plans to pay daily dividends on four preferred stocks: STRF, STRC, STRK and STRD. Bitcoin traded at close to $83,409 at the time of the report, down 3% over the previous week.