Strive Buys $511M of Bitcoin as Strategy Shifts Cash Into Preferred Stock Buybacks
Bitcoin treasury firms Strategy and Strive made record purchases last week, but they put their money into different assets. Strategy focused on buying back its preferred stock, while Strive increased its Bitcoin buying. The split shows the two firms are taking different approaches to how they use their capital.
Why it matters
- Strive's large Bitcoin purchases add to demand for the asset from corporate treasury buyers.
- Strategy paused its Bitcoin buying streak, so its direct demand for Bitcoin has eased for now.
- Strategy's preferred-stock buybacks show it is using cash to support its own securities instead of Bitcoin.
What to watch next
Watch whether Strategy restarts its Bitcoin buying and whether Strive keeps adding to its holdings in the coming weeks.
