Bitcoin (BTC) treasury firm Strive purchased 1,110 BTC for roughly $81.5 million last week, lifting its treasury to 21,356 coins. 

The purchase cut Strive’s average cost to $93,257 per coin from $94,345. However, its Bitcoin reserve still carries a paper loss of more than $292 million.

Strive Keeps Buying While Its BTC Reserve Stays Underwater

The 1,110 coins mark Strive’s largest purchase since June 1, when it added 2,499 Bitcoin. It disclosed the purchase in an 8-K filing with the Securities and Exchange Commission (SEC) on August 24. 

The coins were acquired between August 17 and 21. The company paid an average of $73,409 per coin, inclusive of fees and expenses. Strive made two smaller purchases earlier in August. 

It added 147 coins in the first week and 79 in the second. Those buys cost $14.5 million combined, less than a fifth of the latest purchase.

The firm has now spent $1.99 billion across 29 separate purchases since September 2025. It has never sold a coin. The reserve is currently valued near $1.70 billion, or 14.66% below cost. 

The purchase arrives as CEO Matt Cole argued that the downturn has ended. He cited Bitcoin breakouts against both the US dollar and gold.

“My conviction is very strong that the Bitcoin bear market is over… seeing both relationships now turn higher together gives me more confidence in the next 12 to 18 months…” he said.

 Follow us on X to get the latest news as it happens

Strategy Moved the Opposite Way in August

Strive’s spending contrasts sharply with Strategy, which raised $3.28 billion by selling stock in August and bought no Bitcoin.

Strategy has sold 6,916 coins since its last purchase on June 22. Its average cost of $75,385 sits below current levels, so that position remains profitable.

Strive’s does not. Bitcoin traded at $79,787 at press time. Strive therefore needs a 17% gain to reach its $93,257 break-even price. Thus, Cole’s conviction now carries a measurable price tag.

Subscribe to our YouTube channel to watch leaders and journalists provide expert insights

Source: BeInCrypto