Strive Boosts Bitcoin Holdings with $36.6 Million Acquisition
Strive, a publicly traded company, has significantly boosted its Bitcoin holdings after purchasing an additional 469 BTC. This move brings their total Bitcoin treasury to 25,000 coins.
The latest acquisition cost Strive $36.6 million, with the average price per Bitcoin being slightly below $78,000. At current market prices, this puts the value of Strive's Bitcoin holdings at approximately $1.95 billion.
Strive now holds the fifth spot among public companies holding Bitcoin, trailing Strategy, Twenty One, Metaplanet, and MARA. To surpass Twenty One, they would need to acquire another 18,515 BTC over the next 15 weeks, which would require aggressive weekly purchases if their competitor maintains current holdings.
Strive's CEO, Matt Cole, highlighted SATA as the sole source of capital raised during the latest week. The company's perpetual preferred stock has recently surpassed $1 billion in notional value outstanding and its amplification ratio climbed to 53.5%, further emphasizing their treasury strategy.