Bitcoin treasury firm Strive bought 1,375 BTC for $109 million last week, pushing its total holdings to 24,531 BTC. Its preferred security, SATA, supplied 70% of the capital and has climbed to nearly $1 billion in notional outstanding.
Strive Buys 1,375 BTC for $109 Million
An SEC filing shows Strive purchased 1,375 BTC at an average price of almost $79,281 per BTC. The purchase brought its total holdings to 24,531 BTC. The firm also increased its cash and cash equivalents to $202,600.
The purchase follows Strive's 1,800 BTC buy two weeks ago, which made it the fifth-largest Bitcoin treasury firm, just behind Strategy, Twenty One Capital, Metaplanet, and MARA Holdings. CEO Matt Cole hinted at the latest purchase yesterday when he posted the company's BTC portfolio tracker.
Cole has also said his company wants to acquire over 20,000 BTC before the year runs out, which could make it the second-largest Bitcoin treasury firm behind Michael Saylor's Strategy. Strategy has sold some of its holdings over the last two months but still holds 845,050 BTC, a large gap over the rest of the field.
SATA Nears $1 Billion in Notional Outstanding
In an X post, Cole said 70% of the capital Strive raised last week came from SATA, the company's preferred security. He also noted that SATA now has $999 million in notional outstanding, approaching the $1 billion mark.
SATA currently trades at its par value of $100, positioning the company to keep raising capital for further Bitcoin purchases. Strive's common stock, ASST, has been one of the best-performing crypto stocks over the last month as Bitcoin rebounded from a low near $63,000.
ASST is up over 100% in the last month. The stock recently touched a year-to-date high above $27. However, the stock is down more than 2% today as Bitcoin retraces from its recent high above $82,000. According to TradingView data, ASST is trading below $27.
Source: SEC Filing
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