Strive (ASST) Increased Bitcoin Holdings 5.5%, but Bitcoin per Assumed Diluted Share Rose Just 1.3%. Is the Treasury Strategy Creating Value?

Strive, Inc. (NASDAQ:ASST) purchased 1,110 Bitcoin for approximately $81.5 million between August 17 and August 21, paying an average of $73,409 per coin, including fees and expenses. The acquisition increased its holdings from 20,246 Bitcoin to 21,356, a 5.5% gain.

The more important result was smaller. Strive, Inc. (NASDAQ:ASST) increased Bitcoin per assumed diluted share from approximately 22,671 satoshis to 22,976 satoshis, or 1.3%. Its company-defined assumed fully diluted share count rose from approximately 89.3 million to 92.9 million and excludes 26.6 million shares underlying traditional warrants.

Bull Case

Strive, Inc. (NASDAQ:ASST) bought the latest Bitcoin tranche below the cryptocurrency's subsequent market price. Bitcoin traded near $78,900 in U.S. spot markets late on August 24, approximately 7.5% above Strive's $73,409 average purchase cost. The newly acquired coins consequently carried a market value above their acquisition cost.

Cash also increased alongside common and preferred stock issuance. Strive, Inc. (NASDAQ:ASST) ended August 21 with $171.9 million of cash and cash equivalents, up $17.1 million from one week earlier, despite completing the Bitcoin purchase. That balance provides capacity for additional acquisitions and corporate expenses.