Strive Expands Bitcoin Reserve by $335M, Total Holdings Reach 36,818 BTC
The company focused on Bitcoin treasury operations has added an additional 1,223 BTC following an initial acquisition that propelled it beyond MARA Holdings, as it pursues its strategy of reserve expansion financed through equity offerings.
Last week, Strive, a Bitcoin treasury-focused company, acquired 4,045 Bitcoin worth around $335 million, elevating its aggregate holdings to 36,818 BTC as the firm maintains its strategy of growing cryptocurrency reserves by leveraging equity financing mechanisms.
The acquisition of Bitcoin (BTC) took place during the period spanning Oct. 12-16, with an average purchase price of $82,803 per coin when accounting for fees and associated expenses, based on a filing submitted Monday to the US Securities and Exchange Commission.
With this latest addition, Strive has secured its position as the fourth-largest publicly listed corporate holder of BTC, surpassing MARA Holdings, with its reserves now estimated at roughly $3 billion in value, per information from BitcoinTreasuries.net. Reports emerged that MARA was divesting portions of its holdings, as monitoring by Arkham revealed wallets associated with the mining operation transferring approximately $82 million in cryptocurrency to Binance and Gate over recent days.
The company additionally disclosed around $369 million in revenue generated from warrant exercises executed on Oct. 12 and 13, which led to the creation of 13.7 million common shares. The effective share count for Strive increased by 12.4%, closely mirroring the 12.3% growth in Bitcoin reserves and maintaining BTC per share at relatively stable levels.
This most recent purchase comes on the heels of multiple substantial Bitcoin acquisitions by Strive, including a 3,311 BTC purchase during the preceding week, when the company's reserves expanded by 11.2%, surpassing the 9.4% rise in its effective common share count.
The company further revealed the introduction of SATS last week, representing a newly issued preferred stock class that features a fixed 15% annual dividend distribution, to be paid out on each business day starting Nov. 9, contingent upon board authorization. Last week saw Strive price a $630 million offering of these newly created preferred shares, with the capital raised potentially being allocated toward further Bitcoin acquisitions.
On Monday during late-morning trading, Strive (ASST) shares demonstrated gains of approximately 7.7%, trading at $25.95, as reported by Yahoo Finance data.