Strive Buys 2,500 BTC Amid Strategy’s First Bitcoin Sale
Strive purchased 2,500 bitcoin for $185.2M, lifting holdings to 19,000 BTC and entering the top 10 public corporate holders. The buy follows Strategy's first BTC sale, which sparked a sell-off. Benchmark initiated coverage with a Buy rating and 93% upside potential.
Quick Take
Strive bought 2,500 BTC at $74,092 average, total now 19,000 BTC.
Strategy sold 32 BTC on Monday, triggering a broader crypto sell-off.
QTD BTC yield 23%, YTD 36.7%, with amplification ratio 57%.
Benchmark analyst gives Buy rating, $32 price target (93% upside).
Market Impact Analysis
BullishInstitutional accumulation reinforces bitcoin's store-of-value narrative, but the small size and offsetting Strategy sale limit immediate price impact.
Speculation Analysis
Key Takeaways
- Strive acquired 2,500 BTC for $185.2 million at an average price of $74,092, boosting its total to 19,000 BTC.
- Strategy (MSTR) sold 32 bitcoin—its first publicized sale—triggering a sell-off across the crypto market.
- Strive's QTD BTC yield hit 23.0% and YTD 36.7%, with an amplification ratio of 57.0%.
- Benchmark analyst Mark Palmer initiated coverage with a Buy rating and a $32 price target, implying 93% upside.
What Happened
Strive announced a significant bitcoin purchase, adding 2,500 coins to its treasury. The acquisition cost $185.2 million at an average price of $74,092 per bitcoin, bringing total holdings to 19,000 BTC. This pushes Strive into the top 10 publicly traded corporate bitcoin holders. The buy comes during a market dip, with bitcoin falling from over $74,000 to around $70,800. Meanwhile, Strategy, the largest corporate holder, disclosed its first bitcoin sale—32 BTC for $2.5 million—which sparked a broader sell-off. The contrasting moves highlight divergent corporate strategies in a volatile market.
The Numbers
Strive paid an average of $74,092 per bitcoin, lower than its previous buy at $76,989 in May, indicating opportunistic buying. Its quarter-to-date BTC yield stands at 23.0%, with a year-to-date yield of 36.7% and an amplification ratio of 57.0%. Strategy’s sale of 32 BTC for $2.5 million at $77,135 was small but triggered immediate market jitters. Benchmark’s price target of $32 suggests Strive’s stock could nearly double from current levels, despite a pre-market dip to $16.58.
Why It Happened
Strive is following a clear bitcoin accumulation strategy, aiming to become a leading corporate treasury holder. The purchase at lower prices reflects a buy-the-dip approach, reinforcing its commitment. Strategy’s rare sale, even a minor one, unsettled markets due to its status as the largest holder—any sell signal from Michael Saylor’s firm is scrutinized. The analyst coverage initiation and bullish target underscore growing Wall Street recognition of bitcoin treasury companies as a distinct asset class.
Broader Impact
The contrasting moves by Strive and Strategy highlight the maturation of corporate bitcoin treasuries. Strive’s aggressive accumulation and high BTC yield metrics may set a new benchmark for evaluating such companies. Benchmark’s coverage signals that traditional finance is increasingly willing to value firms based on their bitcoin holdings, potentially attracting more institutional interest and legitimizing the treasury model.
What to Watch Next
- Monitor whether Strategy’s sale was a one-off or the start of a trend, as further disposals could pressure BTC prices.
- Watch for Strive’s next quarterly report to see if its BTC yield and amplification ratio can be sustained or improved.
- Track other corporate treasuries considering bitcoin adoption, following the model set by Strive and Strategy.
This article is for informational purposes only and does not constitute financial advice.
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