Strive bought 1,107 BTC for about $94.5 million between September 21 and 25, pushing its total holdings to 27,462 BTC. The Dallas-based asset manager funded most of the purchase through its SATA preferred stock program, and it remains the fifth-largest public Bitcoin holder.
Strive adds 1,107 BTC in a lighter week
Strive bought 1,107 BTC for roughly $94.5 million between September 21 and 25, paying an average of $85,396 per coin including fees, according to a Form 8-K the company filed with the SEC. Its total holdings now stand at 27,462 BTC, worth about $2.3 billion at Friday's closing price of $83,943.
That pace marks a step down from the prior week, when the company's stash grew by 1,355 BTC. Strive has still bought Bitcoin every week since it began its treasury strategy, even as the size of each purchase varies.
Preferred stock funds most of the buy
Preferred stock again covered most of the bill. Warrant exercises generated another $12.4 million, and CEO Matt Cole said "85% of total capital raised came from SATA" for the week. SATA is Strive's variable-rate perpetual preferred stock, which pays dividends and lets the company raise cash with less dilution for common shareholders.
The filing shows SATA's share count rose by roughly 1 million to 12.2 million during the week, putting its notional value at about $1.22 billion at the $100 stated amount. Class A common shares rose by about 649,000, and the company's cash pile grew by $19.2 million to $248.8 million.
Strive has leaned on SATA before. A 469 BTC purchase earlier this month, which lifted holdings to an even 25,000 coins, was paid for entirely with the preferred stock. A $109 million purchase in early September split funding 70/30 between SATA and common stock.
Strive sits fifth among public Bitcoin holders
Strive ranks fifth among public Bitcoin holders, behind Strategy, Twenty One Capital, Metaplanet and MARA, according to Bitcoin Treasuries data. To catch Twenty One's 43,514 BTC by year-end, it would need about 16,050 more coins, or roughly 1,235 a week.
Rival treasury firms also disclosed purchases the same day. Strategy added 1,665 BTC for $142.7 million, pushing its holdings to a record 847,666 BTC, while Tom Lee's Bitmine picked up 17,362 ETH worth about $47 million, bringing it to 4.9% of Ethereum's supply.
Source: Decrypt
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