Strive Aims for Second Spot Among Public Bitcoin Holders
Strive CEO Cole spoke on the One Share podcast, suggesting it's not out of the question for his company to become the second-largest Bitcoin holder by year-end. Strive has been buying Bitcoin at an increased pace, acquiring 3,156 BTC in August alone, with a recent purchase totaling 1,800 BTC at $79,431 each.
This brought Strive's total holdings to 23,156 BTC, valued between $1.8 and $1.9 billion. Cole pointed out that over 700 million dollars' worth of warrants are set to expire in mid-October, priced at $27 each. If these warrants are exercised, the company could receive this cash, which could be used to buy more Bitcoin.
Cole also mentioned another 700 million dollars of 'digital credit', although it's unclear what exactly this refers to. Assuming a Bitcoin price increase, Strive could potentially deploy over $1.4 billion towards buying more BTC, closing the gap with current second-place holder Twenty One Capital, which holds around 43,514 BTC.