Strive Buys 1,223 Bitcoin While Preparing a $630 Million Cash Raise

Strive Scoops up Another 1,223 Bitcoin arsenic $630 Million Deal Looms

Strive isn’t wasting clip filling its bitcoin vault. The Nasdaq-listed plus manager has acquired different 1,223 BTC for astir $100 million, lifting its full holdings to 36,818 BTC arsenic of Oct. 16.

The latest acquisition brings its five-day buying spree to 4,045 BTC, acquired for astir $335 million. And there’s different fiscal maneuver successful the works. A $630 cardinal preferred-stock offering is scheduled to settee connected Tuesday, perchance giving the institution caller superior to proceed accumulating bitcoin (BTC).

“Last Wed-Fri, Strive acquired 1,223 BTC astatine an mean outgo of $81,734 per bitcoin, bringing holdings to ₿36,818,” Strive CEO Matt Cole said connected X. “SATS IPO proceeds settee this Tuesday; Strive plans to support existent 18-month dividend reserve; accepted warrants are expired,” Cole added.

Preferred Shares Provide Another Funding Avenue

The buying spree coincides with an assertive capital-raising campaign. Strive precocious priced 7 cardinal shares of its caller 15% Series A perpetual preferred stock, SATS, astatine $90 apiece, targeting astir $630 cardinal successful gross proceeds. The offering is expected to settee Oct. 20, taxable to customary conditions. SATS is antithetic than SATA, Strive’s archetypal perpetual preferred stock.

SATA holders person archetypal precedence implicit SATS holders erstwhile dividends are paid, oregon if the institution shuts down and sells its assets. Both SATA and SATS holders get paid earlier regular Strive shareholders holding ASST. Meanwhile, accepted warrants issued successful transportation with the company’s September 2025 transaction person each been exercised oregon expired, eliminating that outstanding warrant overhang.

Strive Moves Well Ahead of MARA

With 36,818 BTC, Strive has jumped good up of MARA Holdings‘ reported 35,577 BTC treasury. The institution has managed to proceed bitcoin accumulation done equity financing and preferred securities alternatively than accepted borrowing. Its latest offering carries a 15% yearly dividend rate, introducing an ongoing fiscal work alongside its expanding bitcoin holdings. The adjacent question is however overmuch of Strive’s incoming superior volition find its mode into bitcoin.