Morning Minute: Move Over, Saylor, There’s a New Top Buyer in Town
Summary
Strive Asset Management bought 3,311 BTC for about $280 million from Oct. 5 to 9, bringing its holdings to 32,773 BTC. Its purchase exceeded Strategy’s 250 BTC acquisition that week by roughly 13 times, though Strategy remains far larger, with 848,250 BTC. Strategy’s recent Bitcoin buying has slowed while it spent $192 million repurchasing preferred shares, and its market value fell below the value of its Bitcoin holdings. Strive plans to raise $500 million through a preferred-share offering paying a 15% annual coupon, with proceeds earmarked for additional Bitcoin purchases.
