Key Takeaways
- • Strive (ASST) lifted its Bitcoin treasury to 32,773 BTC after buying 3,311 BTC, valued at about $280 million at a cost basis of $84,500 including fees and expenses, according to FXStreet.
- • Strive is now the fourth-largest corporate Bitcoin holder, behind Strategy (MSTR), which holds 848,250 BTC according to SoSoValue.
- • Bitcoin is trading near $83,000 to $84,000, with support near $80,000 and resistance at $84,000, while markets await the US Consumer Price Index (CPI) report due Wednesday.
- • CME FedWatch pricing shows roughly 81% odds that the Federal Reserve leaves rates unchanged in the 3.75%-4.00% range at its October meeting.
- • Strive CEO Matt Cole has described the recent price decline as a good time to buy and has said Bitcoin could rise sharply if the dollar weakens under US debt pressures.
Summary
Strive, Inc. (Nasdaq: ASST) announced that it purchased 3,311 Bitcoin, bringing its digital treasury balance to 32,773 BTC. The acquisition was valued at about $280 million, with a cost basis of $84,500 per bitcoin including fees and expenses. With this purchase, Strive ranks as the fourth-largest corporate Bitcoin holder, trailing Strategy (MSTR), the largest with 848,250 BTC, per SoSoValue.
The purchase came amid heightened volatility across crypto markets ahead of the US CPI release. Bitcoin has been moving sideways, with technical levels cited by FXStreet placing support at the lower range limit near $80,000 and resistance at $84,000. A sustained move above $84,000 could open a path toward an $88,000 supply zone, while a break below $80,000 could bring stronger headwinds. Bitcoin remains above its 50-, 100- and 200-day exponential moving averages at roughly $80,250, $76,507 and $75,604, respectively. Momentum indicators are mixed, with the Relative Strength Index near 52 and the MACD still below zero.
Macro conditions remain a key driver. CPI is a central inflation gauge for Federal Reserve policymakers. A softer-than-expected reading would generally support risk assets and strengthen the case for the Fed to hold rates steady, a outcome CME FedWatch currently prices at about 81% for the October meeting. Crypto Finance said that markets will also monitor remarks from Kevin Warsh for clues on the Fed's stance and the likely direction of the next two FOMC meetings.
Strive CEO Matt Cole has characterized the current price weakness as an opportunity to accumulate, and has argued that Bitcoin could rise substantially if the dollar weakens under mounting US debt. These views are the company's own and have not been independently verified.
The purchase came amid heightened volatility across crypto markets ahead of the US CPI release. Bitcoin has been moving sideways, with technical levels cited by FXStreet placing support at the lower range limit near $80,000 and resistance at $84,000. A sustained move above $84,000 could open a path toward an $88,000 supply zone, while a break below $80,000 could bring stronger headwinds. Bitcoin remains above its 50-, 100- and 200-day exponential moving averages at roughly $80,250, $76,507 and $75,604, respectively. Momentum indicators are mixed, with the Relative Strength Index near 52 and the MACD still below zero.
Macro conditions remain a key driver. CPI is a central inflation gauge for Federal Reserve policymakers. A softer-than-expected reading would generally support risk assets and strengthen the case for the Fed to hold rates steady, a outcome CME FedWatch currently prices at about 81% for the October meeting. Crypto Finance said that markets will also monitor remarks from Kevin Warsh for clues on the Fed's stance and the likely direction of the next two FOMC meetings.
Strive CEO Matt Cole has characterized the current price weakness as an opportunity to accumulate, and has argued that Bitcoin could rise substantially if the dollar weakens under mounting US debt. These views are the company's own and have not been independently verified.
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