Strive's Recent Bitcoin Acquisition
Strive has enhanced its Bitcoin portfolio by acquiring 1,107 BTC for around $94.5 million between September 21 and September 25. The transactions brought the firm's total Bitcoin holdings to 27,462 BTC, valued at approximately $2.3 billion at the latest market prices.
Funding Details
The bulk of this acquisition was financed through Strive’s SATA preferred stock, with CEO Matt Cole revealing that 85% of the funds came from this source, including $12.4 million from warrant exercises. On social media, Cole highlighted the significance of this financial strategy for the firm's growth.
“Strive acquired 1,107 BTC for $94.5M at an average cost of $85,396 per bitcoin, raising total holdings to ₿27,462,” Cole noted on X.
Market Position and Future Goals
With this latest purchase, Strive positions itself as the fifth-largest holder of Bitcoin among publicly traded entities. To surpass Twenty One Capital, which holds 43,514 BTC, Strive aims to acquire an additional 16,050 bitcoins before the year's end, averaging roughly 1,235 BTC weekly.
