Strive's 20,000 BTC Milestone Clouded by Share Dilution
Strive, the Bitcoin treasury company, has reached an impressive milestone of 20,000 BTC in its holdings. However, despite this significant increase, the value of each share actually decreased due to rapid dilution.
The company acquired 79 more BTC between July 20 and 24 at an average price of approximately $65,723 per coin, including fees and expenses. This purchase lifted Strive's holdings from 19,921 BTC to 20,000 BTC. However, the effective common shares outstanding rose by a substantial 430,000 during the same period.
This means that despite the increase in Bitcoin balance, the amount of Bitcoin held per share actually decreased by 0.12% due to the growing number of shares. Strive defines effective common shares as its Class A and Class B common shares combined. Class A increased by 437,477 shares, while Class B declined by 7,477.