Strive Raises Funds to Acquire Over 400 More Bitcoin
Strive, a Bitcoin-based digital asset treasury company, has made significant strides in expanding its Bitcoin holdings. The company recently raised funds through the issuance of perpetual preferred stock 'SATA' to purchase more than 400 additional Bitcoin.
The funds were used to buy 6,106 BTC between August 24 and September 25 at an average price of $80,375, according to Lookonchain. This brings Strive's total Bitcoin holdings to 27,462 BTC, ranking the company fifth among publicly traded companies globally.
Strive has primarily used SATA to finance its Bitcoin purchases, indicating a strong commitment to accumulating the leading cryptocurrency. The company's move may have significant implications for the market, particularly in terms of its potential influence on the global supply and demand dynamics of Bitcoin.