Strive buys 1,223 Bitcoin as $630m preferred-stock sale nears settlement

Key points

• Strive bought 1,223 BTC at an average of $81,734 per coin, taking holdings to 36,818 BTC, worth roughly $3bn.
• The company acquired 4,045 BTC in five days last week for about $335m.
• Its $630m SATS preferred-stock offering, priced at $90 a share, is expected to settle on 20 Oct.

Strive has added 1,223 Bitcoin to its treasury, spending about $100m between 14 and 16 Oct at an average of $81,734 per coin, Bitcoin.com News reports. The purchase takes the Nasdaq-listed asset manager's holdings to 36,818 BTC, worth roughly $3bn.

The buy extends a five-day spree in which Strive acquired 4,045 BTC for about $335m.

Strive is also raising capital. It priced 7 million shares of its 15% Series A perpetual preferred stock, SATS, at $90 each, targeting about $630m in gross proceeds, with settlement expected on 20 Oct subject to customary conditions. SATS ranks behind the company's original SATA preferred stock, and both rank ahead of ordinary ASST shareholders.

With 36,818 BTC, Strive sits ahead of MARA Holdings' reported 35,577 BTC. It has built its position through equity and preferred securities rather than conventional borrowing, though the 15% dividend on the new stock adds an ongoing obligation.

What to watch: Strive expects its $630m SATS preferred-stock offering to settle on 20 Oct, subject to customary conditions.

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