Strive and Strategy, formerly MicroStrategy, announced fresh Bitcoin purchases totaling 1,490 BTC on Monday, October 19, as the cryptocurrency recovered from last week’s brief fall below $80,000.
Strive acquired another 1,223 BTC, bringing its total holdings to 36,818 Bitcoin, according to an announcement shared by CEO Matt Cole.
The company has yet to disclose the purchase price. At Bitcoin’s market price of approximately $82,500 earlier Monday, the newly acquired coins were worth around $101 million.
Meanwhile, Michael Saylor’s Strategy purchased 267 BTC for $22.1 million between October 12 and 18, paying an average of $82,900 per Bitcoin.
The latest acquisition brings Strategy’s total holdings to 848,517 BTC. The company funded most of the purchase through approximately $22 million in MSTR share sales.
Strategy also repurchased 1.94 million STRC preferred shares for $193.1 million. It expanded its digital credit securities repurchase authorization to $3 billion, with approximately $1.16 billion remaining available.
Corporate Bitcoin Buying Continues Despite Market Uncertainty
The purchases come as Bitcoin attempts to recover from last week’s sharp selloff.
BTC briefly fell below $80,000 on October 15 after stronger-than-expected US inflation data raised concerns about further Federal Reserve interest rate hikes.
However, Bitcoin recovered above $82,000 on Monday as oil prices and US Treasury yields declined, easing pressure on risk assets.
The corporate purchases suggest that major Bitcoin treasury holders are continuing to accumulate during market weakness.
Still, broader institutional demand remains uncertain. US spot Bitcoin ETFs recorded approximately $228 million in net outflows last week, raising questions about the strength of the recovery.
Wednesday’s US crude oil inventory report could become a major catalyst. Higher oil prices could revive inflation concerns and pressure Bitcoin again.
For now, $80,000 remains Bitcoin’s critical support level. A sustained recovery above $84,000–$85,000 would strengthen the bullish outlook ahead of the Federal Reserve’s October 27–28 meeting.
