The biggest corporate bitcoin holder, Strategy, revealed on Monday that it had purchased 1,665 coins last week for $142.7 million, marking its second consecutive purchase following a short break. The Nasdaq-listed company indicated that it had also repurchased $152 million in its preferred stock, STRC. Strategy currently possesses 847,666 bitcoins, valued at $70.5 billion, as indicated in a filing with the Securities and Exchange Commission. Elsewhere, the fifth largest bitcoin treasury, Strive, announced that it acquired 1,107 BTC last week for a total expenditure of $94.5 million, thereby increasing its holdings to 27,462 coins.
The two companies have persisted in accumulating assets, even as the bitcoin treasury model has faced challenges. Major treasuries such as Strategy, Satsuma, Smarter Web Company, Sequans, Nakamoto, and Empery Digital have liquidated bitcoin holdings this year to address debt obligations, support operational costs, or facilitate buybacks. Meanwhile, other entities have either ceased operations or shifted focus toward AI infrastructure in response to significant declines in their share prices. Strategy stock has lost over 50% of its value over the past year. Strive is down by more than 30% over the same period. Both Strategy and Strive have conveyed to investors that operations continue as normal and that bitcoin is expected to recover.
Strive CEO Matt Cole has consistently asserted that the company maintains a debt-free status, with no margin requirements and no encumbered bitcoin, characterising its balance sheet as designed to flourish amid volatility. Strategy has defended having to sell bitcoin this year, with CEO Phong Le boasting that the company now has a “bullet-proof balance sheet” because of the sales, and that it was the “right trade at the time” to sell when it did. The software company last week announced it plans to pay investors daily dividends on four of its preferred stocks. Bitcoin’s price recently stood at close to $83,409, reflecting a decline of 3% over the past week.
