Strive Lands 469 More Bitcoins, Becomes Fifth-Largest Corporate Holder
Strive Stock Doubles in Value After Purchasing 469 Bitcoin for $36.6M
In a significant move, Strive, a company that manages and holds Bitcoin, acquired an additional 469 BTC at an average price of around $77,954 per coin. This purchase brings the total number of Bitcoins held by Strive to exactly 25,000, with a worth of approximately $1.95 billion at current prices.
The acquisition was funded entirely through the sale of SATA, the company's perpetual preferred stock, which has now surpassed $1 billion in notional value outstanding. The purchase was made between September 8 and September 11, according to a Form 8-K filing with the US Securities and Exchange Commission submitted on Monday.
Strive's shares rose over 7% on Monday, more than doubling in the past month. With this latest buy, Strive has become the fifth-largest publicly traded corporate Bitcoin holder. CEO Matt Cole stated that becoming the second-largest corporate Bitcoin holder by year-end is possible but not his base case.