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UNIStrive buys 3,311 Bitcoin for $280m in largest weekly purchase since January
The Nasdaq-listed treasury company bought 3,311 BTC between 5 and 9 October at an average of about $84,500, lifting its holdings to 32,773 BTC.
Why it matters: Strive's purchase shows corporate treasury demand for Bitcoin continuing even as the largest holder, Strategy, spent more of its latest period on share buybacks than on coins.
Key points
- Strive acquired 3,311 BTC for roughly $280m, an 11.2% rise in holdings to 32,773 BTC.
- About $208m of the purchase came from warrant exercises, with SATA preferred shares rising by 532,094.
- Strategy bought just 250 BTC for $21.5m in its latest period but still holds 848,250 BTC.
The Nasdaq-listed company bought the coins between 5 and 9 October at an average price of about $84,500 each, including fees and expenses.
ET on Tuesday.
Strive also expanded its preferred stock financing. Cash and cash equivalents rose by $25.6m to $310m.
The buying contrasts with Michael Saylor's Strategy, which announced on Monday it had purchased 250 BTC for $21.5m. Strive bought more than 13 times as much Bitcoin, though Strategy remains far larger with 848,250 BTC, worth near $71bn, against Strive's 32,773 BTC at about $2.73bn.
What to watch: Shares underlying Strive's outstanding warrants remained eligible for exercise ahead of their expiry at 5 p.m. ET on Tuesday.
Live updates on NewsFeeds:BitcoinDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)
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Not investment advice. Read the risk disclaimer.