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Strive hits 20,000 BTC, but BTC per share slips on share dilution

Strive bought 79 BTC last week, but its effective common shares rose by 430,000, pulling BTC held per share down about 0.12% to 23,781 satoshis.

Reported · Written up by our desk · Market Structure

Strive, a Bitcoin treasury company, reached 20,000 BTC last week after buying 79 BTC from July 20 through July 24, at an average price of about $65,723 per coin including fees and expenses, according to a July 27 SEC filing cited by CryptoSlate. The purchase increased Strive’s holdings from 19,921 BTC to 20,000 BTC.

Still, the balance-per-owner metric moved in the opposite direction. Strive’s Effective Common Shares Outstanding rose by 430,000 shares during the same week, from 83,669,973 to 84,099,973, with Class A up 437,477 shares and Class B down 7,477. Based on those figures, BTC held per effective common share fell from about 23,809 satoshis on July 17 to 23,781 satoshis on July 24, a decline of approximately 0.12%.

CryptoSlate also highlighted a second metric in Strive’s filing, BTC per assumed fully diluted share, which declined by about 0.10%. It noted an arithmetic inconsistency in the assumed fully diluted calculation, where Strive says it includes effective common shares, options, and unvested restricted stock units, while excluding 26,596,510 shares underlying traditional warrants.

The outlet further said Strive did not explain what caused the net 430,000 increase in Effective Common Shares Outstanding or connect proceeds from additional shares to the 79-BTC purchase. Using the reported average price, the 79 BTC cost about $5.192 million, while cash and cash equivalents fell by $3.4 million over the week, leaving uncertainty about where the funding link came from.

Latest closeBitcoin $63,911.74 ▲0.1%

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