Strive buys 382 BTC for roughly $30 million, holding spot as ninth-largest bitcoin treasury

Bitcoin-focused, digital asset treasury Strive, Inc. bought another 382 BTC for about $30 million, according to CEO Matt Cole.

Cole posted to social media on Tuesday that Strive's (NASDAQ: ASST) total (BTC) holdings have risen to 15,391 bitcoin, worth nearly $1.2 billion at current prices. The latest block of 382 BTC was purchased at approximately $79,348, the executive said.

Strive ranks as the ninth-largest BTC treasury, ahead of bitcoin miner Hut 8 and behind Riot Platforms.

The firm has raised hundreds of millions of dollars to fund bitcoin purchases. Last year, Strive raised about $160 million by issuing a preferred security called the Variable Rate Series A Perpetual Preferred Stock (SATA), designed to maintain a strike price between $99-$100, while offering a variable monthly dividend.

Michael Saylor's Strategy, the world's largest bitcoin treasury, has employed a similar strategy.

At the beginning of this year, Strive raised another $225 million in an upsized follow-on offering.

Founded in 2022 by Vivek Ramaswamy, Strive Asset Management issues a range of ETFs, investment trusts, and other products. The firm, which has called itself the "first publicly traded asset management Bitcoin treasury company," acquired Semler Scientific in an all-stock transaction last year.