Strive Buys 2000 Bitcoin in a Week for $169 Million
Strive recently completed a major Bitcoin purchase, acquiring 2,000 BTC in a single week for approximately $169 million. This latest addition brings the company's total holdings to 29,462 BTC. The purchase was funded partly through SATA preferred stock and $56.7 million from warrant exercises. Strive CEO Matt Cole revealed that 61.5% of the capital raised during this period came from SATA.
Strive's aggressive buying spree contrasts sharply with Strategy, the largest Bitcoin holder, which added just 334 BTC during its latest buying window. Despite Strive's significant purchase, Strategy's holdings remain nearly 29 times larger at 848,000 BTC. Cole has hinted at the possibility of Strive becoming the second-largest public Bitcoin holder by year-end, though he does not consider it the base case.
Strive's Bitcoin strategy is not solely focused on the size of its holdings. The company reported 27,801 satoshis per assumed diluted share at the quarter-end and a 99.4% Bitcoin Yield over the past year. While Bitcoin remains below $100,000, management aims to increase its Amplification Ratio above 60% and maintain it there. As of now, Strive ranks as the fifth-largest public Bitcoin holder according to bitcointreasuries.net.