Robinhood has added approximately $25 million worth of bitcoin to its corporate balance sheet, according to Johann Kerbrat, the company's Senior Vice President and General Manager of Crypto and International.
Strive, a publicly traded Bitcoin treasury company, purchased 2,000 Bitcoin between September 28 and October 2 at an average price of approximately $84,422 per coin, marking its largest single acquisition in four months.
Bitcoin is trading 32% below the record high it set one year ago, a decline that would qualify as a crash in traditional markets but stands as one of the shallowest post-peak slides in the cryptocurrency's history.