Strive Bolsters Bitcoin Stash to 25,000 Coins After $36.6 Million Purchase

Strive, a Nasdaq-listed asset manager, has increased its Bitcoin holdings to an even 25,000 coins after purchasing 469 BTC for $36.6 million between September 8 and 11. This acquisition brings Strive's total holdings to approximately $1.95 billion at current prices.

The company paid an average of $77,954 per Bitcoin, with the purchase entirely funded by its Variable Rate Series A Perpetual Preferred Stock, or SATA. CEO Matt Cole explained that 100% of the capital raised came from SATA, which now has over $1B notional outstanding and has increased its amplification ratio to 53.5%. This means Strive carries about $53.50 in preferred obligations for every $100 of Bitcoin on its balance sheet.

Strive's Class A common stock barely budged during this period, growing by just 34,206 shares. The company uses preferred stock to raise money without diluting existing shareholders, who hold a stake in the business through common stock paying daily dividends instead.