#strive斥资2.8亿美元增持3311枚btc
After pouring in $515 million across two purchases, it now has just 18 more Bitcoin than its rival—and has claimed fourth place among U.S.-listed companies holding Bitcoin 🦖
📈 进群看今日思路
Nasdaq-listed Bitcoin treasury company Strive has made another move. It bought 2,822 Bitcoin between October 12 and 13 at an average price of $83,266, spending about $235 million. That brought its total holdings to 35,595 Bitcoin—just 18 more than longtime mining company MARA’s 35,577, putting Strive in fourth place 📈
This didn’t happen in isolation. Just a few days earlier, Strive had bought 3,311 Bitcoin at an average price of $84,500, for about $280 million. Combined, the two purchases total 6,133 Bitcoin and roughly $515 million in spending. Its holdings jumped from 29,462 to 35,595 Bitcoin in one go, an 8.6% increase in a short time 🐋
Here’s the current leaderboard: Strategy is far ahead of everyone with 848,250 Bitcoin, followed by Metaplanet with 44,000, Twenty One Capital with 43,514, Strive with 35,595, and MARA with 35,577. In other words, the gap between fourth and fifth place is just 18 Bitcoin, worth about $1.47 million at current prices. Normal price fluctuations over a single day could easily flip their positions back and forth.
What’s even more worth considering is the cost basis. The average purchase prices for these two buys were $83,266 and $84,500, both above Bitcoin’s current price of $81,716. In other words, they’re already sitting on paper losses. But the price isn’t what they’re focused on—it’s their ranking, and the stock price that ranking can help deliver. The stock is up 87% so far this year. Earlier in the year, Strive also completed an acquisition, bringing Semler Scientific into the fold and adding about 5,048 Bitcoin—turning a healthcare company into a Bitcoin treasury company.
My take: the ranking race among Bitcoin treasury companies is itself fuel for fundraising. The higher a company ranks, the easier it is to issue shares and debt, raise money, and buy more Bitcoin—pushing it further up the rankings. This cycle looks perfect when prices are rising, but it ties companies’ share prices ever more tightly to Bitcoin’s price. If prices fall, fundraising windows and repayment pressures could hit at the same time. Rather than a moat, Strive’s extra 18 Bitcoin may simply put it right on the dividing line.
Do you think these Bitcoin treasury companies competing for rankings is a sign that the industry is maturing, or a warning sign of another cycle of leveraged growth?
Let’s talk in the comments.
Every day, I bring you the latest in crypto and capital markets—not just what’s happening, but the logic and opportunities behind the headlines 👀🚀
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After pouring in $515 million across two purchases, it now has just 18 more Bitcoin than its rival—and has claimed fourth place among U.S.-listed companies holding Bitcoin 🦖
📈 进群看今日思路
Nasdaq-listed Bitcoin treasury company Strive has made another move. It bought 2,822 Bitcoin between October 12 and 13 at an average price of $83,266, spending about $235 million. That brought its total holdings to 35,595 Bitcoin—just 18 more than longtime mining company MARA’s 35,577, putting Strive in fourth place 📈
This didn’t happen in isolation. Just a few days earlier, Strive had bought 3,311 Bitcoin at an average price of $84,500, for about $280 million. Combined, the two purchases total 6,133 Bitcoin and roughly $515 million in spending. Its holdings jumped from 29,462 to 35,595 Bitcoin in one go, an 8.6% increase in a short time 🐋
Here’s the current leaderboard: Strategy is far ahead of everyone with 848,250 Bitcoin, followed by Metaplanet with 44,000, Twenty One Capital with 43,514, Strive with 35,595, and MARA with 35,577. In other words, the gap between fourth and fifth place is just 18 Bitcoin, worth about $1.47 million at current prices. Normal price fluctuations over a single day could easily flip their positions back and forth.
What’s even more worth considering is the cost basis. The average purchase prices for these two buys were $83,266 and $84,500, both above Bitcoin’s current price of $81,716. In other words, they’re already sitting on paper losses. But the price isn’t what they’re focused on—it’s their ranking, and the stock price that ranking can help deliver. The stock is up 87% so far this year. Earlier in the year, Strive also completed an acquisition, bringing Semler Scientific into the fold and adding about 5,048 Bitcoin—turning a healthcare company into a Bitcoin treasury company.
My take: the ranking race among Bitcoin treasury companies is itself fuel for fundraising. The higher a company ranks, the easier it is to issue shares and debt, raise money, and buy more Bitcoin—pushing it further up the rankings. This cycle looks perfect when prices are rising, but it ties companies’ share prices ever more tightly to Bitcoin’s price. If prices fall, fundraising windows and repayment pressures could hit at the same time. Rather than a moat, Strive’s extra 18 Bitcoin may simply put it right on the dividing line.
Do you think these Bitcoin treasury companies competing for rankings is a sign that the industry is maturing, or a warning sign of another cycle of leveraged growth?
Let’s talk in the comments.
Every day, I bring you the latest in crypto and capital markets—not just what’s happening, but the logic and opportunities behind the headlines 👀🚀
Tap the profile picture to watch the livestream