Bitcoin DAT Strive's Board Director Pierre Rochard Buys ASST Stocks as SATA Nears Par Value — Source: CoinGape Strive Board Director Pierre Rochard purchases 15,900 ASST Class A common shares
Pierre Rochard, a director on the board of Bitcoin treasury company Strive, purchased 15,900 ASST shares. ASST stock price jumped more than 1% in premarket hours on Wednesday as SATA perpetual preferred stock approaches par value.
Pierre Rochard, CEO of The Bitcoin Bond Company, purchased 15,900 Class A common shares of Strive in an open-market transaction. The shares were acquired at an average price of $12.54 each, making the total value almost $199,386.
Following the purchase, he directly owns 15,900 ASST stocks. The trade was not executed under a Rule 10b5-1 trading plan, according to the filing submitted to the U.S. Securities and Exchange Commission.
This comes as Pierre Rochard predicts Bitcoin’s fundamentals are stronger than ever and urged investors to ignore bearish sentiment, citing its rules-based monetary design and governance.
Meanwhile, he joined others, such as Strategy’s executive director Michael Saylor, in criticizing Bitcoin Improvement Proposal 110 (BIP-110), also known as the Reduced Data Temporary Softfork.
“BIP-110 was a demonic demoralization psyop, praying for all those affected to make a full recovery,” he said.
ASST stock jumped more than 1% in premarket trading hours on August 19, with the price currently trading at $12.94. The stock closed 3.03% lower at $12.80 on Tuesday.
Stock purchase by Pierre Rochard slightly increased sentiment among investors as insider purchases like this are often viewed by market participants as a signal of confidence in a company’s prospects.
Strive acquired an additional 79 BTC for $5 million, bringing total holdings to 20,246 BTC. Bitcoin acquisitions are lower since SATA stock dropped significantly below $100 par value.
SATA just surged to $99.79 on Tuesday, marking its highest trading price in two months when SATA was last trading at par.
CEO Matt Cole just said, “Bitcoin is historically cheap in this price range, and we feel constructive about taking on risk to buy more BTC here.” “Strategy has only sold BTC to support STRC getting back to par so they can accretively buy BTC over the long term.”
Bitcoin price is also jumping towards $65K, with 1% bounce in the past 24 hours. The 24-hour low and high were $64,014 and $64,946, respectively. However, trading volume has decreased by 48% in the last 24 hours, indicating a decline in interest among traders.
Polymarket data shows prediction market participants still expect Bitcoin to dip to $62,500 in August, with 51% Yes odds.
Bitcoin DAT Strive’s Board Director Pierre Rochard Buys ASST Stocks as SATA Nears Par Value originally appeared on CoinGape
