Ramaswamy-Backed Strive Buys 1,567 BTC For $162M

Strive, a company backed by Vivek Ramaswamy, announced the purchase of 1,567 Bitcoin (BTC) for approximately $162 million. The acquisition, at an average price of $103,315 per BTC, brings Strive’s total Bitcoin holdings to 7,525 BTC. This purchase follows the company’s Nasdaq-listed SATA shares debut on Friday after an oversubscribed initial public offering (IPO).

Strive’s move underscores growing institutional interest in Bitcoin. The company is backed by several high-profile investors, including Peter Thiel, JD Vance, and Bill Ackman. Its dividend distribution will be classified as a Return of Capital (ROC), a tax-efficient structure favored by institutional crypto investors. Vivek Ramaswamy himself has increased his shares of Strive, holding a total of 142.3 million shares.

Strategically, the Bitcoin accumulation reflects broader market trends. MicroStrategy, led by Michael Saylor, also added 487 BTC, valued at $49.9 million, bringing their holdings to 641,692 BTC, valued at roughly $47.54 billion.

Bitcoin is currently trading at $105,048, up 2.4% in intraday trading. Technical indicators suggest a 63% breakout probability, with potential for a rally towards $111,584 if Bitcoin maintains support above the $106,000 resistance level.

Market analysts note that a move below $98,300 could invalidate the bullish outlook. The purchase aligns with a surge in investor confidence fueled by a U.S. government shutdown resolution, expectations of Federal Reserve rate cuts, and mounting institutional inflows.

*Disclaimer: This report is for informational purposes only and does not constitute financial advice.*

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.