Strive purchases $169M in bitcoin — nearly 6 times more than Strategy's recent buy

00:00 Speaker A

Strive expands Bitcoin holdings with 2,000 Bitcoin purchase.

00:05 Speaker A

So Strive purchased 2,000 Bitcoin for approximately $169 million, which is nearly six times strategies 334 Bitcoin purchase that they announced yesterday.

00:15 Speaker A

Now, Strive holds 29,462 Bitcoin, which is within 6,000 Bitcoin or so of Marathon, which is the next largest holder of Bitcoin in the Treasury space.

00:27 Speaker A

Marathon, of course, is a Bitcoin miner that is pivoted to becoming an AI data center, so likely will be reducing their Bitcoin exposure while Strive increases theirs, so they will likely catch up very quickly if you are keeping track.

00:41 Speaker A

Uh this week they paid an average of $84,422 per Bitcoin.

00:48 Speaker A

Now, according to CEO Matt Cole, who, you know, we've had on my shows many, many times, Seta, which is their STRC competitor, the Seta preferred stock sales accounted for 61.5% of the capital raised and warrant exercises generated another 56.7 million to buy all of this Bitcoin.

01:03 Speaker A

So Strive now has approximately 1.29 billion of preferred stock in Seta, carrying around 168 million in annual dividend obligations.

01:13 Speaker A

So what's interesting here once again to reiterate is that strategy started as a company that simply found creative ways to take on debt, using preferreds and convertible notes, etc, so that they could just raise capital and buy Bitcoin.