Strive Expands Bitcoin Holdings with Recent Purchase
- Strive acquired 1,375 BTC for $109 million at an average price of $79,281 per BTC.
- This purchase increased Strive’s total Bitcoin holdings to 24,531 BTC.
- The firm aims to acquire over 20,000 BTC by year-end to potentially become the second-largest Bitcoin treasury firm.
- 70% of the capital raised last week came from Strive’s preferred security, SATA, which has nearly $1 billion in notional outstanding.
- Strive’s common stock ASST has surged over 100% in the past month amid a rebound in Bitcoin prices.
Strive’s recent acquisition of Bitcoin highlights its aggressive strategy to expand its treasury holdings as it seeks to close the gap with larger firms like Strategy and MARA Holdings. The significant contribution from SATA indicates strong investor confidence and financial backing for further purchases.
With a total of over $999 million in notional outstanding from SATA and aspirations to acquire more BTC, Strive is positioning itself as a key player in the cryptocurrency market.(Source)
