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Strive adds 1,110 BTC, but per-share Bitcoin yield rises modestly
The week’s purchase lifted Bitcoin per effective common share by 1.19% after accounting for share count, even as it also added about $5.7 million in annualized preferred dividends.
Bitcoin treasury company Strive added 1,110 BTC during the week of Aug. 17 through Aug. 21, buying at an average price of about $73,409 per BTC including fees and expenses, according to a filing dated Aug. 24. Strive’s total holdings increased from 20,246 BTC on Aug. 14 to 21,356 BTC on Aug. 21, a rise of 5.48%.
Despite the larger headline purchase, the benefit to common shareholders was smaller once Strive’s share count changes were considered. Strive said effective common shares, defined as Class A plus Class B stock, rose 4.24% over the week, from 86,037,123 to 89,683,423, leaving Bitcoin per effective common share at about 0.000238127 BTC, up 1.19%.
On a fully diluted measure, Bitcoin per share increased slightly more, rising 1.34%. That measure includes options and unvested employee awards but excludes 26,596,010 shares underlying traditional warrants under Strive’s definition.
Strive’s filing also showed the preferred equity component increased, with 8,270,815 SATA shares outstanding as of Aug. 21, up 441,313 in one week. Using SATA’s $100 stated amount and the 13% annualized rate Strive described as current on Aug. 10, the additional shares imply about $5,737,069 in added annualized preferred dividends, and the filing noted SATA is variable-rate perpetual preferred equity, not debt. Strive also reported cash and cash equivalents rising by $17.1 million to $171.9 million during the week, while the filing did not specify whether share changes or new SATA shares funded the Bitcoin purchases.
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