Strive Acquires $162 Million in Bitcoin, Surpassing Galaxy Digital Holdings
- Strive purchased 1,567 BTC for approximately $162 million at an average price of $103,315 per Bitcoin.
- This acquisition increases Strive’s total Bitcoin holdings to 7,525 BTC, surpassing Galaxy Digital’s holdings of 6,894 BTC.
- The purchase was funded through the oversubscribed IPO of its SATA preferred stock, priced at $80 per share.
- SATA offers a variable monthly dividend of up to 12%, classified as Return of Capital (ROC).
- Strive is now among the top corporate Bitcoin holders globally, following GD Culture Group and ahead of Galaxy Digital.
The recent acquisition highlights Strive’s rapid growth in the Bitcoin treasury space and reflects increasing institutional interest in cryptocurrency investments. This trend is further supported by significant investments such as JPMorgan’s $340 million into BlackRock’s Bitcoin ETF.
Strive’s latest purchase underscores its strategy to enhance its Bitcoin holdings while maintaining shareholder value through innovative financing methods like perpetual preferred equity.(Source)
