Strive bought another 1,355 bitcoin for $107.7 million, pushing its treasury to 26,355 BTC. The Nasdaq-listed firm funded the purchase through warrant exercises, SATA preferred shares, and at-the-market stock sales, and ASST shares jumped more than 6% on the news.
Strive acquired 1,355 BTC for $107.7 million between September 14 and 18, buying at an average price of $79,475 per coin. Vivek Ramaswamy's corporate Bitcoin treasury funded the purchase through warrants, SATA preferred shares, and ASST shares sold via at-the-market offerings.
Treasury Grows to 26,355 BTC
The purchase lifted Strive's total holdings to 26,355 BTC, worth $2.24 billion at the company's stated valuation. Cash and cash equivalents also rose, reaching $229.60 million. According to Bitcoin.com, the firm's cash pile grew by $25.4 million over the week even after the roughly $108 million spent on bitcoin, because new stock and SATA share issuance outpaced the outflow.
Strive issued 786,194 SATA preferred shares during the period, taking the total outstanding to 11.18 million shares, representing about $1.12 billion at stated value. It also issued 2.07 million Class A shares, pushing that count to 87.8 million. The buying has been steady: Strive added 1,110 BTC in late August, then 1,800 BTC, 1,375 BTC, 469 BTC and now 1,355 BTC, totaling 6,109 BTC across five consecutive buying periods. The latest acquisition also moved Strive past crypto exchange Bullish to become the fifth-largest Bitcoin treasury company in the world.
ASST Extends Its Monthly Rally
ASST stock jumped more than 6% to $32 during Monday's pre-market trading, extending its rally to over 135% in a month and 103% year-to-date. Strive CEO Matt Cole called ASST the "2nd-best-performing stock in the U.S." after the past month's surge. The SATA preferred stock, meanwhile, holds above $100 par value and pays an effective yield of 13% as of the latest market close.
However, dilution comes with the strategy: more common and preferred shares enter circulation to finance each bitcoin purchase. Zooming out, ASST remains about 61% below its level from a year ago and more than 90% beneath its early trading peak near $355.
Bitcoin Climbs Alongside the Buying
Bitcoin price jumped 6% to over $85,000, a nine-month high, with a 24-hour range between $80,413 and $85,386. Trading volume rose 58% in the last 24 hours. Polymarket data shows a rise in prediction market participants expecting Bitcoin to reach $100,000 by December.
Sources: CoinGape, Bitcoin.com
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