Strive Acquires $515M in Bitcoin, Surpassing MARA
- Strive acquired an additional 2,822 BTC for $235 million between Oct. 12 and Oct. 13.
- The company now holds a total of 35,595 BTC, surpassing MARA by just 18 BTC to become the fourth-largest publicly traded bitcoin treasury.
- Strive reported $369.2 million in expected proceeds from warrant exercises to fuel further bitcoin acquisitions.
- CEO Matt Cole announced plans to offer new SATS preferred stock valued at a proposed $500 million before expenses.
- Despite these moves, Strive’s common shares closed at $27.59, down by over eight percent during recent trading sessions.
Strive’s aggressive acquisition strategy has enabled it to surpass MARA in the corporate bitcoin rankings by a narrow margin of just 18 BTC. This move is backed by significant fundraising efforts through warrant exercises and planned stock offerings aimed at expanding their bitcoin holdings further.
With its latest acquisitions totaling approximately $515 million, Strive aims to climb higher on the corporate bitcoin leaderboard but faces challenges from potential dilution and shareholder obligations.(Source)
