Strive CEO declares Bitcoin bear market over after double breakout
Matt Cole, Chairman and CEO of Strive, has confidently declared the Bitcoin bear market officially over. His pronouncement came on Monday, August 24, 2026, marking a significant moment for the crypto community.
Cole attributes this turning point to a decisive “double breakout” by Bitcoin against both the US dollar and gold. He now expects the next market cycle for the leading cryptocurrency to be the strongest one yet, driven by a long-term weakening of the US Dollar and increasing demand for scarce assets.
Strive CEO Matt Cole’s bold prediction for the Bitcoin bear market
Cole’s conviction stems from Bitcoin’s recent performance, which saw it break higher in two crucial pairings. This simultaneous strength against both fiat currency and traditional safe-haven assets provides a strong signal, according to the Strive CEO.
He believes this “double breakout” underscores a fundamental shift in market dynamics. Cole’s firm, Strive, holds a substantial position in Bitcoin, making his assessment particularly noteworthy for institutional and retail investors alike.
The BTC/gold ratio as a precursor to market shifts
A key element of Cole’s analysis centers on the Bitcoin-to-gold ratio. He observed that Bitcoin peaked against gold in December 2024, a full ten months before its US dollar price peaked in October 2025.
This pattern then reversed at the market bottom. The BTC/gold ratio bottomed out in February 2026, while Bitcoin’s dollar price hit its low in July 2026. This five-month lead time for the gold ratio offers a powerful predictive signal, Cole suggests.
That sequence helps explain why sentiment might have felt so negative previously. Bitcoin was setting dollar records while still losing ground relative to gold, a dynamic that can feel brutal to investors even with nominal gains. Cole’s firm commitment to Bitcoin is clear through institutional crypto adoption efforts.
Bitcoin’s recent price surge fuels market optimism
The market saw substantial movement leading up to Cole’s declaration. Bitcoin climbed approximately 21% between Wednesday and Friday of the week before his statement, briefly pushing its value above the $79,000 mark.
Looking at the broader monthly performance, Bitcoin is up more than 22% against the US dollar this month. It has also recorded a notable gain of 6.6% against gold over the same period. These figures reinforce the “double breakout” narrative that Cole highlights.
While Cole acknowledges that Bitcoin could still experience a pullback after such a rapid advance, he predicts any meaningful correction would likely be met with strong buying interest. This suggests underlying demand remains robust, cushioning potential dips and signaling a strong market.
Beyond short-term volatility to long-term gains
Cole sees the recent price action as more than just a short-term rally. “My conviction is very strong that the Bitcoin bear market is over,” he stated, adding that the BTC/gold relationship turning higher together gives him greater confidence.
He anticipates significant growth over the next 12 to 18 months, with an even “much larger opportunity” unfolding in the years ahead. This long-term perspective is central to Strive’s strategy and vision for the crypto asset. Investors should keep an eye on Bitcoin’s market revitalization.
Strive’s strategic Bitcoin treasury commitment
Under Matt Cole’s leadership, Strive operates as a dedicated Bitcoin treasury and structured finance company. The firm consistently uses Bitcoin as the hurdle rate for all its capital deployment decisions, highlighting its deep commitment to the asset.
As of June 2026, Strive’s treasury stood at 19,864 BTC, after an acquisition of 759 BTC at an average cost of $65,850 per coin. This made it the seventh-largest corporate Bitcoin position globally at that time. The company later expanded its holdings by adding approximately 5,000 Bitcoins through its acquisition of Semler Scientific.
In July 2026, Cole emphasized Strive’s long-term commitment, stating the company had no intention of selling its Bitcoin, even if prices fell sharply. He noted the company is debt-free and its Bitcoin holdings are not leveraged.
Historical acquisitions and leadership in crypto
Strive has actively built its Bitcoin treasury through strategic acquisitions, including the aforementioned 759 BTC in June 2026. This aggressive accumulation strategy underscores their belief in Bitcoin as a foundational asset.
The acquisition of Semler Scientific made Strive the first Bitcoin treasury company to acquire another publicly traded Bitcoin treasury business. This strategic move further solidified Strive’s position in the institutional crypto space. The firm’s Bitcoin RSI level is also closely watched.
Matt Cole has been instrumental in shaping this strategy, serving as CEO of Strive, Inc. since April 2023 and as Chairman of the Board since September 2025. He previously served as Chief Investment Officer of Strive until October 2025.
Underlying economic factors and future outlook
Cole’s optimism about Bitcoin extends beyond technical chart patterns, rooted in broader economic trends. He points to the “long-term structural weakening of the US Dollar” as a core support for Bitcoin’s ascent.
He also highlights the increasing demand for “non-replicable scarce assets” driven by the burgeoning AI-driven era. This fundamental shift in value perception could further solidify Bitcoin’s position as a store of value in the coming years.
In June 2026, Cole had already described Bitcoin’s downturn as a “mild bear market” and expected it to move back above $80,000, potentially reaching six figures later in the year. This prediction aligns with his current declaration, suggesting a consistent long-term view.
The convergence of technical breakouts and these powerful macroeconomic tailwinds suggests a potentially transformative period for Bitcoin. Investors will be watching closely to see if Cole’s bold prediction translates into sustained gains and a new record-setting cycle.