Strive Buys Another 1,100 BTC as Total Holdings Near 28,000
Strive has made another significant purchase of Bitcoin, acquiring 1,107 units for $94.5 million at an average price of $85,400. This brings their total holdings to 27,462 units, with a valuation of around $2.3 billion due to the current market price of $83,300 per BTC.
The company has been consistently purchasing Bitcoin over the past few weeks, with this being at least their ninth consecutive acquisition. Strive's strategy involves using its own Variable Rate Series A Perpetual Preferred Stock, known as SATA, to raise capital and purchase BTC while paying investors a relatively stable yield.
According to data from tracking websites, the average price of all Strive-held Bitcoins stands at around $80,862. The firm's decision to continue purchasing Bitcoin despite its recent market fluctuations has raised questions about their investment strategy.