Strive reportedly raised enough cash from its preferred stock activity to buy 638 Bitcoin this week. The figures have not been independently confirmed by other sources.
Strive, Inc. reportedly generated sufficient cash from its preferred stock activity to purchase 638 Bitcoin this week. The purchase suggests a possible $55 million withdrawal from the open market for Bitcoin, according to Crypto Briefing.
A familiar funding approach
Strive is a publicly traded company led by CEO Matt Cole. It has a history of using its preferred stock instruments to expand its Bitcoin treasury, and it has previously reported substantial acquisitions of the cryptocurrency.
The reported purchase aligns with that strategy of using preferred equity proceeds to add to its Bitcoin reserves. Despite the unverified numbers, the move is consistent with recent patterns of significant cryptocurrency investment by the company.
Prediction market reaction
In the prediction market, the news appears to influence perceptions of Strive's stock. The "STRC Hits $100 by December 31" market is priced at an 85.5% likelihood of reaching that target.
That figure is a slight increase from recent levels. Observers will watch whether Strive confirms the 638 Bitcoin figure and whether it makes further Bitcoin acquisitions.
Source: Crypto Briefing
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