Strive Buys $81.5 Million in Bitcoin After Issuing More Shares
Summary
Strive added 1,110 Bitcoin last week for about $87.5 million, paying an average of $73,409 per BTC, according to an SEC filing. That lifted its total holdings from 20,246 BTC to 21,356 BTC, worth roughly $1.7 billion. The company funded the purchases by issuing new common and preferred shares through at-the-market offerings. Its Bitcoin holdings rose 5.5% over the week, but Bitcoin per fully diluted share increased only about 1.4% because of the new share issuance. Class A shares rose 4.8% to 79,890,888, while perpetual preferred shares increased 5.6% to 8,270,815. Strive also finished the period with $171.9 million in cash, up from $154.8 million. Other firms, including Metaplanet and Strategy, are also expanding their Bitcoin treasuries.
