In short
- Publicly traded Strive Inc. bought 789 Bitcoin additional to his wealth.
- The purchase brings the total amount of Strive Bitcoin to 14,557 BTC, worth about $1.1 billion.
- True North, a subsidiary of Strive, will host the Bitcoin for Business conference in Lake Oswego, Oregon on May 21.
The stock price of 789 Strive Inc Bitcoin for his wealth, the firm’s investment firm and corporate wealth manager announced on Monday.
The company paid an average price of $77,890 per Bitcoin, Strive CEO and Chairman Matt Cole said wrote on Xputting the purchase at about $61.45 million. Bitcoin has fallen to a recent low of $76,716, bringing the total to around $60.5 million as of this writing.
The purchase increases Strive’s total Bitcoin holdings to 14,557 BTC, worth about $1.1 billion based on Bitcoin’s current price.
Along with the economic growth, Strive’s True North company organized the Bitcoin for Business conference on May 21 in Lake Oswego, Oregon. The event is aimed at CFOs and business leaders exploring Bitcoin-based business strategies.
“Bitcoin and related securities are changing the way businesses manage their wealth,” said True North CEO and Strive Chief Risk Officer Jeff Walton, in a statement. “We want to educate today’s business leaders about the future of the economy.”
Publicly traded companies have more than 1.2 million Bitcoins worth more than $93 billion, according to data from BitcoinTreasuries.netled by Strategy and pulling in about $63 billion. Strategy said on Monday that bought $255 million in Bitcoin last week, a dramatic drop from a purchase of $2.54 billion last week.
Strive manages more than $2.7 billion in assets as a public investment firm and asset manager. The company’s True North subsidiary offers Bitcoin industry training and holds educational events for businesses exploring cryptocurrency integration.
As of April 24, Strive held $90.5 million in equity and $50.3 million in equity in Strategy’s preferred stock, according to SEC filings. The company’s recent purchase of Bitcoin represents a continuation of its strategy to tackle the financial world.
Shares of Strive (ASST) traded down nearly 3% on Monday, recently trading at $15.33. ASST shares are up 55% in the past month, although shares have fallen 53% over the past six months.
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