Key facts
- Strive acquired 1,107 BTC for $94.5 million at an average cost of $85,396 per bitcoin.
- Strive's total Bitcoin holdings increased to 27,462 BTC.
- The company's total holdings are valued at approximately $2.3 billion.
- 85% of the capital raised for these purchases came from SATA preferred stock.
- Warrant exercises generated $12.4 million in proceeds.
Strive Asset Management continued its Bitcoin acquisition streak, purchasing 1,107 BTC for approximately $94.5 million between September 21 and September 25. The average price paid was $85,396 per coin, including fees. This latest purchase brings Strive's total Bitcoin holdings to 27,462 BTC, valued at about $2.3 billion based on Friday's closing price of $83,943. This acquisition pace is slightly slower than the previous week, when Strive added 1,355 BTC. The capital for these purchases was primarily sourced from Strive's SATA preferred stock, with CEO Matt Cole noting that 85% of the total capital raised came from this instrument, which includes proceeds from warrant exercises. Warrant exercises alone generated $12.4 million. SATA is designed to pay dividends and allow Strive to raise funds with less dilution to common shareholders. The company's cash reserves also increased by $19.2 million to $248.8 million. Strive ranks as the fifth-largest public holder of Bitcoin. To match Twenty One's holdings of 43,514 BTC by the end of the year, Strive would need to acquire approximately 1,235 BTC per week.