Strive Adds 1,355 BTC Worth $107.7M, Boosts ASST Stock Price to ATH
Strive's (ASST) latest Bitcoin acquisition has propelled its stock price to an all-time high, as it continues to build its Bitcoin treasury position. The company added 1,355 BTC for $107.7 million at an average purchase price of $79,475 per Bitcoin. This brings Strive's total Bitcoin holdings to 26,355 BTC.
The acquisition was made between September 14 and September 18, as disclosed in a September 21 filing by the company. The purchase increased Strive's bitcoin holdings from 25,000 BTC to 26,355 BTC.
Warrant exercises generated $21.2 million in gross proceeds, with 57.7% of total capital raised coming from SATA, Strive's perpetual preferred stock. This financing structure has become a recurring part of Strive's Bitcoin strategy, with the company using SATA proceeds to finance its previous Bitcoin purchases.
The ASST stock price closed at $30.09 on September 21, up 6.40% in the session, according to historical Nasdaq market data. The recent development occurred shortly before Strive announced the new Bitcoin purchase.