Strive Buys 1,375 More Bitcoin as SATA Stock Hits Almost $1 Billion
Bitcoin treasury firm Strive has significantly increased its holdings by purchasing 1,375 BTC at an average price of $79,281. This acquisition brings its total Bitcoin holdings to 24,531 BTC and follows a similar purchase two weeks ago when it became the 5th-largest BTC treasury firm.
The company's CEO, Matt Cole, hinted that Strive is on track to acquire over 20,000 BTC before year-end, potentially becoming the 2nd-largest Bitcoin treasury firm. Strategy currently holds a large gap with its holdings of 845,050 BTC.
SATA, the preferred security of Strive, accounted for 70% of the capital raised last week and has reached nearly $1 billion in notional outstanding. The stock is trading at its par value of $100, making it easier for the company to raise capital for further Bitcoin purchases.