Strive Adds 1,110 Bitcoin to Treasury, Brings Holdings to $1.7 Billion

Strive, a publicly traded asset manager, has acquired an additional 1,110 Bitcoin at an average cost of $73,409 per coin. This purchase brings its total holdings to 21,356 BTC, which is worth around $1.65 billion to $1.7 billion at recent prices.

Chairman and CEO Matt Cole announced the transaction on social media, pointing investors towards Strive's regulatory filing for more details. The company bought Bitcoin between August 17th and 21st, during a period when its cash pile grew from $154.8 million to $171.9 million.

Strive has favored common stock and SATA, its Variable Rate Series A Perpetual Preferred Stock, over convertible debt to raise capital for its Bitcoin accumulation strategy. The company aims to outrun dilution by deploying capital efficiently and tracking its 'Bitcoin Yield' metric.