Tuesday, 25 August 2026 · No. 145
Strive adds 1,110 BTC to treasury via share sales
Lead story · bitcoin — Strive Buys $81.5 Million in Bitcoin After Issuing More Shares (Decrypt)
The Lead
Strive funded its latest 1,110 BTC purchase with fresh share issuance, adding $81.5 million to a treasury now at 21,356 coins while Bitcoin trades near the dashboard level after a short-covering lift. That inflow from one corporate buyer stands against mixed exchange flows and an MVRV ratio still inside fair-value territory, leaving open whether spot accumulation will sustain or whether the move simply resets leverage for the next leg down.[1][2]
The sanctions campaign against Iran’s remaining trade channels tightens energy markets without producing measurable Bitcoin demand, and network metrics show no acceleration in hashrate or Lightning activity to match the price swing. The open question is whether repeated equity-funded corporate buys can offset distribution pressure once forced covering exhausts itself.
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The Reading
Threat
QUIET
Conviction
50/100
22 sources cited
At Publication
Now and change since Tue 25 Aug
- BTC Price
- $80,753
- 24h Change
- 4.68%
- Fear & Greed
- 74
- Hashrate
- 866.4 EH/s
- MVRV
- 1.49
- Block Height
- 963,958
- S&P 500
- 7,652.86
- VIX
- 15.85
- Gold
- $4686
- DXY
- 99.00
- US 10Y
- 4.71%
- Oil
- $85.26
In This Briefing
The realised price drop of 2.2 % ($80,753 → $78,961) and falling Fear & Greed (74→65) directly contradict the past briefing's hope that corporate accumulation might stabilise or lift prices. Wall Street's new custody/exit products announced the next day highlight the same distribution pressure the past outlook flagged but failed to anticipate an immediate sell-off. Thus the narrative on supply dynamics proved directionally right, yet the timing and short-term price impact were misread.
Lesson: Equity-funded corporate buys do not automatically neutralise distribution when institutional exit infrastructure is simultaneously easing whale liquidations.
Sentiment is at the edge of its own three-month range — the readings that historically precede a turn, not a continuation.
Equity dilution now funds the corporate bid that price action alone has not yet confirmed.
Tuesday · Who is holding
Strategy holds 840,447 BTC at an average of $75,640.
That single balance sheet holds more than the 10 largest listed miners put together (95,980 BTC) — concentration that is a bid on the way up and an overhang on the way down.
- STRATEGY HOLDS
- 840,447 BTC
- AVERAGE COST
- $75,640
- TOTAL SPENT
- $63.6bn
- 10 LISTED MINERS
- 95,980 BTC
Data as of 2026-08-10 · MSTR Deep Dive →
Instruments for this story
- Mining Intel
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Chart of the day
Bitcoin news sentiment — pro vs skeptic framing over time
Go deeper
- Mining
Cipher School · Background to Mining Intel
Electricity into truth — proof-of-work and the 21 million cap
The Wire
BITCOIN
Cypher Tank Returns to Lugano, Expanding Its Bet on Bitcoin Founders — BTC Magazine
BITCOIN
Bitcoin has beaten stocks and gold over six months. Now it’s closing in on $80,000. — MarketWatch
ECONOMY
Central Banking: The Scourge Of Civilization — ZeroHedge
ECONOMY
CNBC Daily Open: Washington escalates on two fronts; Nvidia earnings in focus — CNBC
CONFLICT
Trump targets Iran’s trade lifelines — here are the countries most exposed — CNBC
CONFLICT
Two US carrier groups in Middle East strain navy resources — Al Jazeera
Sources (22)
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