Strive Rises as CEO Declares End of Bitcoin Bear Market
Strive (ASST) surged by 5% following a statement from its CEO, Matt Cole, who declared the Bitcoin bear market over. Strategy (MSTR) and Bitmine Immersion Technologies (BMNR) also rose by 3%, while SharpLink (SBET) climbed 2%. Cole cited Bitcoin's breakout against both the U.S. dollar and gold as evidence of a bullish shift in sentiment. Strategy raised $2 billion through share sales without liquidating its Bitcoin holdings, which remain at 840,447 coins with an average cost of $75,385 per coin. The company allocated most proceeds to unrestricted cash for greater flexibility during market volatility. Meanwhile, SharpLink's institutional ownership increased significantly and is benefiting from a growing Ethereum treasury. Bitcoin rose by 2% in the past day but remains down over 20% monthly as mining ETFs like CoinShares' WGMI declined further.
Tickers: $ASST $BMNR $MSTR $SBET
Topics: Bitcoin Bitmine Immersion Technologies SharpLink Strategy Strive