(SeaPRwire) –
By: Robert Kensington
Strive, Inc.’s ASST stock had a significant jump on Monday. It rose 12.36% to $15.64. This happened after they announced buying 32 Bitcoin between June 2 and 7 for about $2.1 million, at $63,911 per Bitcoin. Their total Bitcoin holdings are now 19,032 BTC. Strive also has $139.2 million in cash reserves. CEO Matthew Cole supports removing Bitcoin capital gains taxes.
The company’s Bitcoin purchases show a clear strategy. They’ve been adding to their digital asset holdings. On June 1, they bought 2,500 BTC for $185.2 million. The recent smaller purchase still fits their plan. Strive positions itself as a Bitcoin treasury and asset management firm. Bitcoin serves as their corporate hurdle rate and a long-term purchasing power tool. They use their Digital Credit platform to access capital for growth.
The Bitcoin acquisition price was in line with the market. This shows the market’s influence on these transactions. Meanwhile, the debate on Bitcoin taxation in the US is heating up. Lawmakers are looking at digital asset tax frameworks. Issues like compliance requirements and tax treatment for staking and mining are being considered. Strive is involved in this policy discussion through the Bitcoin Policy Institute. Cole thinks removing capital gains taxes could encourage broader Bitcoin use. But he knows legislative changes take time.
This isn’t the only corporate Bitcoin accumulation. Strategy recently bought 1,550 BTC for $101.3 million. After that, their total holdings exceeded 845,000 BTC. The actions of these companies show the growing interest in Bitcoin in the corporate world. It also adds to the complexity of the regulatory environment for cryptocurrencies.
Author bio: Robert Kensington, an overseas entrepreneurial veteran with decades of experience in real-economy industrial investment and expansion.