Strive Reduces Debt and Expands Bitcoin Holdings Significantly
- Strive has retired $110 million, or 92%, of the debt from its acquisition of Semler Scientific.
- The company purchased an additional 334 Bitcoin at an average price of $89,851, increasing its total holdings to 13,132 BTC.
- Strive’s Variable Rate Series A Perpetual Preferred Stock saw $600 million in demand, prompting a raise from $150 million to $225 million.
- With a Bitcoin yield of 21.2% quarter-to-date, Strive is now among the top ten corporate Bitcoin treasury companies.
- Despite these improvements, Strive’s shares fell by over two percent on Wednesday.
Strive’s strategic moves reflect a growing trend among corporations to hold Bitcoin, with over190 publicly traded companies collectively owning about 1.134 million BTC. The company’s efforts to manage liabilities while expanding its cryptocurrency portfolio highlight the volatility and risks associated with such treasury strategies.
Following the retirement of significant debt and new acquisitions, Strive’s total Bitcoin holdings are valued at approximately $1.17 billion.(Source)
