Strive Reaches 25,000 BTC Milestone with Latest $36.6 Million Purchase

Strive, a public company that has made significant investments in Bitcoin, reached a milestone last week by adding another 469 Bitcoins to its treasury. This brings its total holdings to an even 25,000 BTC, worth approximately $1.95 billion at current prices.

The latest purchase of 469 Bitcoins was made for $36.6 million at an average price of just under $78,000 per Bitcoin. According to a F0rm 8-K filing released Monday, the entire capital raised during the week came through sales of SATA, Strive's perpetual preferred stock.

Strive CEO Matt Cole noted that 100% of the capital raised during the week came through sales of SATA, which has recently crossed $1 billion in notional value outstanding. The company also increased its 'amplification ratio' to 53.5%, a measure of the ratio of notional preferred equity and debt to BTC NAV.

Strive is currently the fifth-largest public Bitcoin holder, behind Strategy, Twenty One, Metaplanet, and MARA. To overtake Twenty One, Strive would need to acquire another 18,515 Bitcoins, assuming the Tether-backed firm does not add to its current holdings.