Strive Boosts Bitcoin Holdings with $94.5 Million Purchase

Strive has increased its Bitcoin holdings by purchasing 1,107 more BTC at an average cost of $85,396 per bitcoin. The total value of Strive's Bitcoin holdings now stands at approximately $2.3 billion. This purchase was made from September 21 to 25, with a total investment of $94.5 million.

The funds for the purchases came mainly from SATA, a floating-rate perpetual preferred stock that has raised about $1.22 billion in notional value. According to CEO Matt Cole, 85% of the company's capital raised came from SATA, with the remaining amount coming from warrant exercises, which generated an additional $12.4 million.

This purchase puts Strive among the top five companies with the largest Bitcoin holdings, behind Strategy, Twenty One Capital, Metaplanet, and Mara. To catch up with Twenty One Capital's 43,514 BTC by year-end, Strive would need to buy about 16,050 more BTC, which translates to an additional weekly purchase of around 1,235 BTC.