2 days ago
Strive went connected a bitcoin buying spree this past week, snapping up 6,182 BTC for astir $511.4 million. The assertive accumulation pushed its holdings to 43,000 BTC worthy $3.45 cardinal today.
Key Takeaways
- Digital plus treasury (DAT) steadfast Strive purchased 6,182 BTC for astir $511.4 cardinal this past week.
- This month, Strive overtook MARA Holdings to go the fourth-largest publically traded firm bitcoin holder.
- Strive’s $630 cardinal SATS preferred banal offering provides further superior for bitcoin purchases.
Three Bitcoin Purchases Reshape the Rankings
The Nasdaq-listed company, co-founded by Vivek Ramaswamy, executed respective large purchases this month, turning a bid of superior raises into 1 of October’s largest firm bitcoin accumulation campaigns.
The archetypal tranche delivered 3,311 BTC for astir $280 million, astatine an mean terms of $84,500 per coin. Strive followed with different 2,822 BTC for $235 cardinal connected Oct. 12-13, lifting its holdings to 35,595 BTC and narrowly overtaking MARA’s reported 35,577 BTC.
It wasn’t finished. Another 1,223 BTC, purchased for astir $100 cardinal betwixt Oct. 14 and Oct. 16, pushed Strive’s full to 36,818 BTC. That placed Strive 4th among publically traded firm bitcoin holders, down Strategy, Metaplanet, and Twenty One Capital.
On Monday, Strive CEO Matt Cole took to X and wrote:
“Strive acquired 6,182 BTC for $511.4M astatine an mean outgo of $82,732 per bitcoin, bringing full holdings to ₿43,000.”
A $630 Million Preferred Stock Offering Fuels Ambitions
Strive’s buying powerfulness didn’t materialize retired of bladed air. Warrant exercises connected Oct. 12-13 generated astir $369 cardinal successful expected gross proceeds portion issuing astir 13.7 cardinal caller Class A shares. The institution besides priced an upsized offering of its Series A perpetual preferred stock, trading nether SATS, with astir $630 cardinal successful expected gross proceeds.
SATS carries a fixed 15% yearly dividend connected its $100 stated amount. With shares initially offered astatine $90, the effectual yearly output astatine issuance exceeded 16%, assuming dividends are paid. Unlike companies relying heavy connected convertible debt, Strive has emphasized a debt-free equilibrium expanse funded done equity and preferred securities. The trade-off? Existing ASST shareholders inactive look dilution, portion preferred dividends make continuing fiscal obligations.
Strive Targets Second Place arsenic Bitcoin Prices Retreat
At bitcoin prices astir $80,000, Strive’s 43,000 BTC represented astir $3.45 cardinal successful marketplace value. The company’s translation began with its 2025 Bitcoin treasury pivot and accelerated done its acquisition of Semler Scientific, which brought astir 5,048 BTC into the combined business.
CEO Matt Cole has expressed ambitions to decorativeness 2026 arsenic the second-largest publically traded firm bitcoin holder, an nonsubjective requiring thousands of further coins. Strive’s strategy hinges connected expanding bitcoin holdings per stock without allowing equity dilution to erase the benefits. That balancing enactment becomes harder erstwhile bitcoin trades beneath portions of the company’s acquisition cost.
With caller preferred-stock superior disposable and bitcoin prices retreating, Strive faces an intriguing question: Can it support climbing the firm rankings without leaving shareholders footing an progressively costly bill?
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