Strive Surges Towards $1B Market Cap with Bitcoin Holdings Expansion

Strive, a company that manages Bitcoin holdings for its shareholders, is rapidly approaching a $1 billion market capitalization. This milestone comes as it has increased its BTC holdings to 24,531 units, valued at approximately $1.96 billion. The latest addition of 1,375 BTC purchased for $109 million was largely funded by the sale of SATA preferred stock.

The SATA preferred stock pays an annual dividend of 13% and trades near par value. Meanwhile, Strive's common stock has seen significant growth, doubling in value over the past month despite remaining below its peak. This surge contrasts with Strategy, another Bitcoin treasury firm that has not increased its BTC holdings but instead focused on share buybacks to manage shareholder dilution.