Strive Bolsters Holdings with Latest Bitcoin Purchase

Strive, a top-five Bitcoin treasury company and asset manager, has expanded its holdings to 25,000 BTC after purchasing an additional 469 BTC last week. The purchase was made at an average price of $77,954 per BTC, including fees and expenses. This acquisition brings Strive's total holdings to 25,000 BTC.

The transaction occurred between September 8th and September 11th, according to a Monday filing with the US Securities and Exchange Commission. The purchased Bitcoin was acquired from the proceeds of sales of SATA, Strive's perpetual preferred stock, which has surpassed $1 billion in notional value outstanding.

Strive CEO Matt Cole stated that the purchase was funded entirely through the sale of SATA shares. As a result, the company's market capitalization has risen to around $2.5 billion, surpassing that of Metaplanet, another Japanese Bitcoin treasury company.