Strive buys 1,107 bitcoin, lifting treasury to 27,462 BTC
Strive spent $94.5 million on 1,107 bitcoin between 21 and 25 September, taking its holdings to 27,462 BTC and keeping it fifth among public bitcoin treasuries.
Key points
- Strive acquired 1,107 BTC for $94.5 million, at an average cost of $85,396 per bitcoin.
- The purchase lifted Strive's holdings from 26,355 BTC to 27,462 BTC, per a Form 8-K filed with the SEC.
- Strive's bitcoin stack is worth roughly $2.3 billion, with a blended cost average of about $80,862 per coin.
- CEO Matt Cole said warrant exercises raised a further $12.4 million, and that 85% of total capital raised came from SATA.
- Strive's ASST shares rose more than 32% over the past month but were down about 2% on Monday.
Strive bought 1,107 bitcoin for $94.5 million between 21 and 25 September, according to the company, taking its total holdings to 27,462 BTC. The purchase keeps the bitcoin treasury firm in fifth place among publicly traded companies that hold the asset.
Chief executive Matt Cole announced the buy on X on Monday, saying the company paid an average of $85,396 per bitcoin. A Form 8-K filed with the US Securities and Exchange Commission showed holdings rising from 26,355 BTC to 27,462 BTC after the transaction.
Cole also said warrant exercises brought in another $12.4 million, and that 85% of total capital raised came from SATA, Strive's preferred stock. The filing showed the company's cash and US dollar equivalents rising from $229.6 million to $248.8 million while it bought bitcoin.
Strive adds 1,107 bitcoin
Strive's bitcoin stack was worth about $2.3 billion with the price near $83,300 per unit on Monday. Its blended cost average of roughly $80,862 per coin leaves the company some room above its purchase price.
The purchase fits a near-weekly pattern for Strive this year. Bitcoin.com News reported that Strategy acquired 1,665 BTC in the same week, while Bitmine said it bought 17,362 ETH and now holds more than six million coins.
Strive remains behind MARA Holdings, Metaplanet, Twenty One Capital and Strategy among the largest bitcoin-focused digital asset treasury firms. It also holds 505,000 shares of Strategy's Variable Rate Series A Perpetual Stretch Preferred Stock, known as STRC.
Cash and capital raised
Strive's common shares, ASST, trade on the Nasdaq. They were down about 2% from the market open on Monday, down roughly 5% over five days, but up more than 32% over the past month. Bitmine's BMNR and Strategy's MSTR were also slightly lower on the day.