Strive buys 2,000 Bitcoin for $169m in largest purchase since June
Strive acquired 2,000 Bitcoin between 28 September and 2 October at an average of about $84,422, its biggest buy in four months, taking holdings to 29,462 BTC.
Why it matters: Strive's purchase shows a listed treasury company still adding Bitcoin at scale, funded largely by preferred stock that pays a dividend Bitcoin itself does not generate.
Key points
- Strive paid an average of about $84,422 per coin for the 2,000 Bitcoin, roughly $169 million in total.
- Holdings reached 29,462 BTC as of 2 October, up 48% in dollar terms since 2 July.
- The filing lists $284.7 million in cash and no debt, with an average cost of $90,170 per Bitcoin at the end of September.
Strive bought 2,000 Bitcoin for about $169 million, its largest purchase in four months, Decrypt reports. The company paid an average of roughly $84,422 per coin between 28 September and 2 October, according to its filing with the SEC.
The purchase lifted Strive's holdings to 29,462 Bitcoin as of 2 October. At about $86,000 per coin, that stack is worth roughly $2.5 billion. The company's previous biggest buy was 2,500 Bitcoin between 23 May and 1 June, which took its total to 19,000.
A four-month high
Strive is a Bitcoin treasury company: it raises money from investors and holds Bitcoin rather than cash. The combined stash was about 12,800 BTC, rising to 14,557 by late April and 20,246 by mid-August.
The filing does not say where this week's money came from, but Strive has recently raised most capital by selling SATA, a preferred stock paying about 13% a year on a $100 stated amount. SATA supplied 70% of capital in the week ending 4 September and 85% in the week ending 25 September.
Live updates on NewsFeeds:BitcoinDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)
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