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Strive buys $94.5 million of Bitcoin, boosting holdings above 27,000 BTC
The purchase came from Sept. 21 to Sept. 25 at an average cost of $85,396 per BTC, with preferred stock supplying 85% of the capital raised.
Strive, a Dallas-based asset manager, bought 1,107 bitcoin for about $94.5 million between Sept. 21 and Sept. 25, according to a Form 8-K filed with the SEC, and lifted its total holdings to 27,462 BTC.
The company said its BTC holdings were worth about $2.3 billion at Friday’s closing price of $83,943, after a prior week that had increased its stash by 1,355 BTC.
Decrypt reported that Strive’s Bitcoin purchases were largely funded by preferred stock, with CEO Matt Cole writing that warrant exercises generated another $12.4 million and that 85% of total capital raised came from SATA.
SATA is Strive’s variable-rate perpetual preferred stock, which pays dividends and is designed to raise funds with less dilution for common shareholders.
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