Crypto
Strive (ASST) Swoops Up $85.88 Million for Bitcoin Buying Spree
Strive (ASST) made significant moves in its efforts to accumulate Bitcoin, raising an estimated $85.88 million through its SATA preferred stock over three trading sessions from September 21 to 23. The funds could potentially buy around 1,002 BTC at recent prices, according to estimates from BitcoinTreasuries.net.
The company's last confirmed purchase covered September 14 through 18, where it bought 1,355 BTC for about $107.7 million, an average of $79,475 per coin. This pushed its disclosed treasury from 25,000 BTC to 26,355 BTC.
Strive's CEO Matt Cole provided insight into how the raise came together, stating that warrant exercises brought in $21.2 million and that 57.7% of total capital raised in the period came from SATA proceeds.