Strive Buys $94.5 Million in Bitcoin, Pushing Holdings Past 27,000 BTC

In brief

• Strive bought 1,107 BTC between Sept. 21 and Sept. 25 at an average of $85,396, bringing its stash to 27,462 BTC worth about $2.3 billion.
• SATA preferred stock supplied 85% of the capital raised, including $12.4 million from warrant exercises, per CEO Matt Cole.
• Strive remains the fifth-largest public Bitcoin holder and would need roughly 1,235 BTC a week to catch Twenty One by year-end.

Strive kept its Bitcoin shopping streak alive last week, though its cart was a bit lighter.

The Dallas-based asset manager bought 1,107 BTC for about $94.5 million between Sept. 21 and Sept. 25, paying an average of $85,396 per coin including fees, according to a Form 8-K filed Monday with the SEC.

Its holdings now total 27,462 BTC, worth about $2.3 billion at Friday's closing price of $83,943, the company said.

That's a step down from the prior week, when Strive's stash grew by 1,355 BTC, based on its previous filings.

Once again, preferred stock footed most of the bill. "Warrant exercises generated another $12.4M. Including those proceeds, 85% of total capital raised came from SATA," CEO Matt Cole wrote on X.

SATA is Strive's variable-rate perpetual preferred stock, which pays dividends and lets the company raise money with less dilution for common shareholders. Its share count rose by roughly 1 million during the week to 12.2 million, the filing shows. At its $100 stated amount, that puts SATA's notional value at about $1.22 billion. Class A common shares rose by about 649,000.