Strive bought $280 million in Bitcoin, but Bitcoin per common share rose just 1.72%
Summary
Strive disclosed buying 3,311 BTC for about $280 million from Oct. 5–9, lifting holdings to 32,773 while cash also rose. Because effective common shares increased 9.36%, gross Bitcoin per effective common share rose only about 1.72%; that measure excludes preferred-stock claims and is not net asset value or investment return. Strive also added SATA preferred shares, which rank ahead of common equity and carry a 13% annual dividend rate. In a partly overlapping period, Strategy bought 250 BTC for $21.5 million but spent $192.4 million repurchasing STRC preferred shares. The disclosures illustrate different capital-allocation choices and show why Strategy’s purchases alone do not capture broader corporate Bitcoin demand.
