Strive Boosts Bitcoin Holdings to 27,462 with $94.5 Million Purchase

Strive Asset Management has continued its streak of buying large amounts of Bitcoin. Between September 21st and September 25th, it acquired 1,107 BTC at an average price of $85,396 per coin, including fees. This purchase brings the company's total holdings to 27,462 BTC, valued at approximately $2.3 billion based on Friday's closing price.

According to a Form 8-K filing with the SEC, Strive used SATA preferred stock to fund most of the purchase, accounting for 85% of the capital raised. Warrant exercises generated an additional $12.4 million in proceeds. The company's share count rose by about 1 million during this period, bringing it to 12.2 million, with a notional value of around $1.22 billion at its stated amount.

Strive relies heavily on SATA for funding its Bitcoin purchases. In fact, the entire $109 million purchase in early September was paid for using both SATA and common stock, split 70/30. As the fifth-largest public holder of Bitcoin, Strive needs to acquire around 16,050 more coins by year-end to catch Twenty One Capital's holdings.

Other treasury firms have also made significant purchases recently. Strategy added 1,665 BTC for $142.7 million, pushing its holdings to a record 847,666 BTC, while Tom Lee's Bitmine picked up 17,362 ETH worth about $47 million.