Strive Buys $94.5M in Bitcoin Amid Rising Preferred Shares

Strive Inc., a Dallas-based structured finance company and institutional asset manager, reported that it bought $94.5 million worth of Bitcoin between September 21 and 25. The purchase was made at an average price of $85,396 per coin, including fees and expenses.

The company's holdings of Bitcoin increased to 27,462 BTC as of September 25, up from 26,355 BTC on September 18. Strive's preferred shares outstanding also rose by more than one million during the same period, reaching 12,193,180 shares on September 25.

Strive CEO Matt Cole stated that warrant exercises generated an additional $12.4 million in capital, and SATA preferred shares supplied 85% of total capital raised when those proceeds were included.

The company's cash and cash equivalents also increased by $19.2 million to reach $248.8 million on September 25.