Strive Expands Bitcoin Holdings with Recent Purchase
- Strive acquired an additional 1,109 Bitcoin from May 19 to May 22, raising its total to 16,500 BTC.
- As of May 22, Strive reported holding approximately $93.3 million in cash and cash equivalents.
- The company is exploring new stock sale programs to finance further Bitcoin purchases.
- Strive plans to initiate daily dividends on its SATA preferred shares at a rate of 13% annually starting in June.
- With this acquisition, Strive becomes the seventh-largest public corporate holder of Bitcoin, valued at around $1.3 billion.
Strive’s recent purchase of Bitcoin aligns with its strategy to utilize yield-bearing securities as part of its financial model, which executives believe could transform traditional credit systems.
The company’s total holdings now reflect significant growth in digital assets, underscoring its commitment to a robust cryptocurrency strategy with $93.3 million in cash reserves available for future investments. (Source)
