Strive Buys 469 More Bitcoin, Taking Holdings Past 25,000 BTC

• Strive said it bought an additional 469 Bitcoin last week, increasing its total holdings to 25,000 BTC.
• Strive said it spent $36.6 million on the Bitcoin purchase at an average price of about $78,000 per token, putting the current value of its Bitcoin holdings at about $1.95 billion.
• Strive raised the possibility of becoming the world’s second-largest public company by Bitcoin holdings by year-end, but said that is not its base-case outlook.

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U.S. asset manager Strive bought 469 Bitcoin last week, taking its total holdings above 25,000 BTC.

An 8-K filing cited by The Block on Sept. 14 showed Strive spent $36.6 million on the purchase at an average price of about $78,000 per Bitcoin. At current prices, the company’s Bitcoin holdings are worth about $1.95 billion.

Chief Executive Officer Matt Cole said all of the money used for last week’s Bitcoin purchase came from sales of Strive’s perpetual preferred stock, SATA. SATA’s stated amount outstanding recently exceeded $1 billion.

The pace of purchases, however, slowed from the previous week. Strive bought 1,375 BTC in the prior week for about $109 million.

Strive is now the world’s fifth-largest public-company holder of Bitcoin. Strategy, Twenty One, Metaplanet and MARA hold more.

Cole also said Strive could climb to second place among public companies by Bitcoin holdings by year-end, though he added that this is not the company’s base-case outlook.

To overtake Twenty One, which currently holds 43,514 BTC, Strive would need to acquire another 18,515 BTC. Assuming Twenty One does not add to its holdings, Strive would need to buy an average of about 1,234 BTC a week over the remaining 15 weeks of the year.

Meanwhile, Strategy, the world’s largest corporate Bitcoin holder, kept its holdings unchanged at 845,050 BTC after making no additional purchases for a second straight week. Instead, it repurchased about $139.3 million of its STRC preferred stock last week using dollar cash.

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Source: en.bloomingbit.io