Strive adds 469 Bitcoin to reach 25,000 BTC treasury
Strive’s latest Bitcoin purchase was funded entirely through its SATA preferred stock as the company continues its rapid climb among corporate BTC holders.
Strive, a leading corporate Bitcoin holder and asset manager, recently bolstered its Bitcoin treasury with an additional 469 BTC, raising its total holdings to 25,000 BTC. The company, co-founded by Vivek Ramaswamy and now publicly traded on Nasdaq, acquired the Bitcoin between September 8 and 11 at an average price of $77,954 per BTC, including fees and expenses.
This purchase, funded entirely through the proceeds from sales of SATA preferred stock, which now exceeds $1 billion in notional value, saw SATA shares outstanding increase by 402,541 to approximately 10.4 million shares. As of September 11, Strive also held $204.2 million in cash and 505,000 shares of STRC preferred stock, valued at about $49.8 million.
The company, which became the fifth-largest publicly-traded corporate Bitcoin holder in late August, saw its Nasdaq-traded shares surge over 7% on Monday, reaching around $29. Strive's market capitalization now stands at approximately $2.5 billion, surpassing that of Metaplanet despite the latter holding significantly more Bitcoin.
Written by urgent.news from Cointelegraph's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
