Strive buys 1,107 BTC for $94.5 million, lifting holdings to 27,462 BTC
In brief
- Strive bought 1,107 BTC for about $94.5 million between Sept. 21 and Sept. 25.
- Strive's holdings reached 27,462 BTC, worth about $2.3 billion at Friday's close.
- SATA preferred stock supplied 85% of capital raised, CEO Matt Cole said.
- Strive ranks fifth among public Bitcoin holders, per Bitcoin Treasuries data.
How Strive paid for it
Strive paid an average of $85,396 per coin including fees, according to the Form 8-K as reported by Decrypt. That's a step down from the prior week, when its holdings grew by 1,355 BTC based on previous filings.
Strive leans heavily on SATA to fund its buys. SATA is the company's variable-rate perpetual preferred stock (it pays dividends and lets Strive raise money with less dilution for common shareholders).
CEO Matt Cole said on X that warrant exercises added more capital on top of the preferred raise.
"Warrant exercises generated another $12.4M. Including those proceeds, 85% of total capital raised came from SATA."
SATA's share count rose by roughly 1 million during the week to 12.2 million, according to the filing. 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, and Strive's cash grew by $19.2 million to $248.8 million.
The funding mix hasn't been fixed. A $109 million purchase in early September was split 70/30 between SATA and common stock, while an earlier 469 BTC buy this month (the one that took holdings to an even 25,000) was paid for entirely with preferred stock.
Where Strive ranks
Strive is fifth among public Bitcoin holders, behind Strategy, Twenty One Capital, Metaplanet and MARA, according to Bitcoin Treasuries data. Catching Twenty One's 43,514 BTC by year-end would take about 16,050 more coins, or roughly 1,235 a week, by Decrypt's calculation.
That's above last week's pace of 1,107 BTC.
Other treasury buys
Strategy disclosed the same day that it added 1,665 BTC for $142.7 million, bringing its holdings to a record 847,666 BTC, Decrypt reported. Tom Lee's Bitmine bought 17,362 ETH worth about $47 million, which brings it to 4.9% of Ethereum's supply.
Frequently asked questions
What is Strive's SATA preferred stock?
SATA is Strive's variable-rate perpetual preferred stock. It pays dividends and lets the company raise money with less dilution for common shareholders. Its share count rose by roughly 1 million during the Sept. 21 to 25 week to 12.2 million, putting its notional value at about $1.22 billion at its $100 stated amount.
How much Bitcoin does Strive hold?
Strive held 27,462 BTC after buying 1,107 BTC for about $94.5 million between Sept. 21 and Sept. 25. The company said the stack was worth about $2.3 billion at Friday's closing price of $83,943. That makes it the fifth-largest public Bitcoin holder, according to Bitcoin Treasuries data.
