Vivek Ramaswamy-Backed Strive’s Bitcoin Holdings Cross $1 Billion After Latest Buying Spree

• Strive’s Bitcoin holdings now total 14,557 BTC, valued at approximately $1.1 billion based on Bitcoin’s current market price.
• The firm also disclosed that it holds $90 million in cash reserves and an investment in Strategy’s preferred stock STRC.
• Strive also announced its expanding its True North initiative to educate business leaders on Bitcoin’s role in corporate finance.

Vivek Ramaswamy-backed Strive (ASST) moved higher in early-morning trade amid weakness in the cryptocurrency market, after the company announced that its total Bitcoin (BTC) holdings had crossed 14,000.

In a filing with the Securities and Exchange Commission (SEC), the company said it had acquired 789 BTC for around $61 million at an average cost of $77,890 per Bitcoin. The company now holds a total of 14,557 BTC on its balance sheet, worth around $1.1 billion. 

ASST’s stock edged 0.5% higher in pre-market trade. Retail sentiment around the company trended in ‘bullish’ territory over the past day, accompanied by ‘high’ levels of chatter. 

Meanwhile, Bitcoin’s price edged 0.3% lower in the last 24 hours to around $77,800. Retail sentiment around the apex cryptocurrency also trended in ‘bullish’ territory over the past day, but chatter remained at ‘normal’ levels. 

Strive Holds $90 Million In Cash, And Some STRC

Ramaswamy has long championed Bitcoin and even accepted campaign donations in BTC during his presidential run in 2024. He is a major stakeholder and co-founder of Strive. 

The filing also showed that the company held $90.5 million of cash and cash equivalents, and $50.3 million in the Variable Rate Series A Perpetual “Stretch” Preferred Stock (STRC) of Strategy (MSTR). The Michael Saylor-backed firm also announced its Bitcoin purchase on Monday of 3,273 Bitcoin for around $255 million over the past week.

Strive Pushes Bitcoin Curriculum Through True North Initiative

Strive also announced that its research and media arm, True North, is expanding its corporate Bitcoin education efforts. The group plans to host an after-work summit in Lake Oswego, Oregon, on May 21, targeting CFOs, founders, and treasury professionals.

“Bitcoin and adjacent securities are transforming how businesses manage their treasuries,” said Jeff Walton, CEO of True North and chief risk officer at Strive. “We aim to educate the business leaders of today about the financial landscape of the future.”

ASST’s stock has gained over 4% this year, while Bitcoin’s price has fallen around 11%. 

Read also: Michael Saylor’s Latest Bitcoin Buy Is 10x Smaller After $2.5B Spending Spree

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