Strive Buys $109M Worth of Bitcoin for Public Treasury

Nasdaq-listed Strive (ASST) made a significant move in its Bitcoin holdings, acquiring 1,375 BTC for approximately $109 million between August 31 and September 4. This purchase was made at an average price of $79,281 per coin, bringing the company's total Bitcoin holdings to 24,531 BTC.

Cole, Strive's CEO, reported that 70% of the capital raised last week came from SATA, Strive's Variable Rate Series A Perpetual Preferred Stock, which now has about $999 million in notional value outstanding. This preferred structure serves as the firm's primary non-common funding path for additional BTC buys.

According to Chief Risk Officer Jeff Walton, Strive's Bitcoin holdings rose 5.9% week over week from 23,156 to 24,531 BTC, marking the third straight week above 5%. Over three weeks, the company's holdings increased by 21.1% from 20,245 BTC.

The allocation of preferred equity funds for public Bitcoin treasury accumulation is Strive's primary strategy, as seen in this acquisition. This move underscores the company's commitment to expanding its cryptocurrency holdings.