Strive Shares Rise as MicroStrategy Resumes Bitcoin Purchases After Ten-Week Pause
Strive (ASST) shares rose by approximately 7% following news that peer company MicroStrategy (MSTR) resumed purchasing Bitcoin after a ten-week pause. The move, which saw MSTR acquire $369.7 million worth of Bitcoin at an average price of $80,318 per coin, signaled renewed institutional interest in the corporate Bitcoin treasury model and boosted sentiment for related stocks like Strive. Strive itself has seen a 97% surge over the past month but lacks company-specific news to explain its recent gains. The stock's high beta (13.19) indicates significant volatility risk, especially given that Bitcoin prices have fallen slightly on the day of MicroStrategy’s purchase. Analysts suggest Strive is particularly sensitive to shifts in market confidence around corporate BTC accumulation. MicroStrategy funded this latest round by selling 4.53 million shares and now holds a total of 845,050 Bitcoin. The company's executive chairman stated the move brought net leverage down to zero.
Topics: Bitcoin Strategy (MSTR) Strive (ASST) treasury strategy