Strategy Buys 334 Bitcoin but Strive Bought 2,000: What's Going On?

Strategy (NASDAQ:MSTR) bought 334 Bitcoin (CRYPTO: BTC) last week, while smaller rival Strive (NASDAQ:ASST) bought six times as much.

What Strategy’s Filing Shows

According to a Monday 8-K filing, Strategy bought 334 Bitcoin for $28.7 million between Oct. 1 and Oct. 4 at an average of $85,839 per coin. 

It sold 92,894 MSTR shares to raise $15.7 million and covered the rest with $13 million in cash. Total holdings now stand at 848,000 BTC, bought for $63.97 billion at an average of $75,441.

Strategy also repurchased 1.77 million STRC preferred shares for $176.3 million between Sept. 28 and Oct. 4, using $154.1 million in cash and $22.2 million in interest income. 

It ended the period with a $4.88 billion dollar reserve and $833.4 million in additional cash.

Strategy’s Third-Quarter Estimates

The company estimated these third-quarter figures:

• Digital-asset gain: $20.91 billion
• Carrying value of holdings: $70.82 billion
• Deferred tax expense: $1.88 billion

How Strive Outbought Its Bigger Rival

Strive disclosed a larger purchase the same morning, buying 2,000 BTC between Sept. 28 and Oct. 2 at an average of $84,422, about $169 million. 

That lifts its holdings to 29,462 BTC. CEO Matt Cole said 61.5% of the money came from SATA, Strive’s own preferred stock.