Strategy and Strive Acquire $182.7 Million in Bitcoin Amid Price Surge

Bitcoin buy — Public companies Strategy and Strive have purchased a combined 2,305 Bitcoin for $182.7 million, contributing to a market rally that pushed the price past $86,000.

Strategy, the largest corporate Bitcoin holder, acquired 950 BTC for $75.7 million, marking its first purchase since August. Strive bought 1,355 BTC for $107.7 million. The announcement coincided with Bitcoin’s price reaching $86,008, a 6% increase over 24 hours.

Strategy’s holdings now total 846,000 BTC, valued at approximately $72.7 billion. The company had paused its Bitcoin acquisition program earlier this year to focus on stock buybacks and building cash reserves. Strive has continued weekly purchases and now ranks as the fifth-largest corporate holder with 26,355 BTC.

The buying activity comes despite a challenging year for Bitcoin treasury companies, with several selling holdings to manage debt or fund operations. The market’s upward move also occurred following the blockage of key crypto legislation and a Federal Reserve interest rate hike.