Strive surpasses Coinbase, becomes 7th-largest BTC treasury holder

Strive disclosed Tuesday that it purchased an additional 1,109 Bitcoin for roughly $85.4 million, bringing its total holdings to 16,500 $BTC and pushing the company ahead of Coinbase and Riot Platforms among public corporate Bitcoin holders.

The company acquired the Bitcoin at an average price of about $76,988 per coin. Strive reported an 11.0% quarter to date $BTC Yield, a 23.4% year to date $BTC Yield, and an amplification ratio of 45.2%, according to details shared by Strive CEO Matt Cole.

The purchase makes Strive the seventh largest public Bitcoin holder, according to BitcoinTreasuries data, placing it just above Coinbase, which holds 16,492 $BTC, and Riot Platforms, which holds 15,680 $BTC.

Riot reported in April that it ended the first quarter with 15,680 $BTC after selling 3,778 $BTC for $289.5 million, while Coinbase’s balance sheet holdings stand at 16,492 $BTC, according to BitcoinTreasuries.

Shares of Strive were up more than 6% Tuesday morning, trading near $19.30, as the latest purchase reinforced the company’s push to expand its Bitcoin treasury strategy.