Strive Makes Largest Bitcoin Buy in Four Months With $169 Million Purchase
Strive, a publicly traded Bitcoin treasury company, made its largest Bitcoin purchase in four months last week, acquiring 2,000 BTC. The company paid an average of $84,422 per coin between September 28 and October 2, totaling approximately $169 million. This purchase brings Strive's total holdings to 29,462 BTC, valued at around $2.5 billion based on an average price of roughly $86,000 per coin as of October 2.
The company's last significant buy was 2,500 BTC between May 23 and June, which increased its holdings to 19,000 BTC. Strive's growth has been fueled by its acquisition of Semler Scientific, a healthcare technology firm with about 5,000 BTC, which shareholders approved in January. By late April, Strive held 14,557 BTC, and by mid-August, it had increased to 20,246 BTC.
Strive raises capital primarily by selling SATA, a type of preferred stock that pays regular dividends. In recent weeks, SATA has supplied 70% to 85% of the company's capital. Each SATA share carries a $100 stated amount, with Strive currently paying about 13% annually in dividends. The company reported $284.7 million in cash and no debt as of its latest filing.
Despite the recent purchase, Strive's average cost per Bitcoin was $90,170 at the end of September, slightly above the $86,000 trading price on Monday. This means the company's Bitcoin holdings are currently valued below its purchase price. Strive ranks fifth among public Bitcoin holders, trailing Strategy, Twenty One Capital, Metaplanet, and MARA, with Twenty One holding 43,514 BTC.