Strive Buys 1,107 More Bitcoin, Bringing Holdings to 27,462
Summary
- Strive said it bought an additional 1,107 Bitcoin for about $94.5 million, bringing its total holdings to 27,462 Bitcoin.
- Strive said it funded the Bitcoin purchases through SATA sales and stock warrant exercises, with SATA sales accounting for 85% of total funding.
- Strive shares fell about 0.3% to $29.35 on September 28, but the stock remains up about 70% this year.
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Strive, a U.S. Bitcoin investment firm, bought 1,107 more Bitcoin for about $94.5 million.
According to a filing submitted to the U.S. Securities and Exchange Commission on September 28, the company bought the Bitcoin between September 21 and September 25 at an average price of $85,396 each. That increased its total holdings to 27,462 Bitcoin.
The latest purchase was slightly smaller than the 1,355 Bitcoin it bought a week earlier. Strive funded the purchase through sales of its perpetual preferred stock, SATA, and exercises of existing stock warrants.
Funds raised through warrant exercises totaled $12.4 million last week, down from $21.2 million the previous week. SATA sales, meanwhile, accounted for 85% of total funding, up from 57.7% a week earlier.
Strive now holds the fifth-largest Bitcoin stash among publicly traded companies worldwide, behind Strategy, Twenty One, Metaplanet and MARA. If it surpasses MARA, it will move up one spot in the rankings.
Matt Cole, Strive's chief executive officer, has previously said the company could rank second globally by Bitcoin holdings by the end of this year. Twenty One, which is currently No. 2, holds 43,514 Bitcoin. Assuming no additional purchases by Twenty One, Strive would need to acquire 16,053 more Bitcoin to overtake it.
Strive shares fell about 0.3% to $29.35 on September 28. The stock is still up about 70% this year. Over the same period, shares of Strategy and Twenty One have fallen 6% and 26%, respectively.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.