Strive Doubles Down on Bitcoin, Acquires 1,375 BTC for $109 Million
Strive, a company that has been actively buying up Bitcoin, made another significant purchase between August 31 and September 4. According to CEO Matt Cole, the firm acquired 1,375 BTC for approximately $109 million, bringing its total holdings to 24,531 BTC. This acquisition pushes Strive's Bitcoin treasury worth to around $1.9 billion.
The company paid an average price of $79,281 per Bitcoin during this period. It's worth noting that SATA preferred-stock sales accounted for 70% of the capital raised during this time, with outstanding notional volume reaching nearly $999 million.
Cole stated that SATA shares outstanding increased by 921,511 to nearly 10 million. Strive's cash and equivalents also climbed to $202.6 million. Notably, the firm's 505,000 shares of Strategy's STRC preferred stock remained unchanged.
As a result, Strive is now on pace to challenge Twenty One Capital for the No. 2 spot among public Bitcoin treasuries. Twenty One Capital currently holds 43,514 BTC.