Strive adds 469 Bitcoin to reach 25,000 BTC treasury

Strive, a top-five Bitcoin treasury company and asset manager, purchased 469 Bitcoin for about $36.6 million last week, bringing its holdings to 25,000 BTC.According to a Monday filing with the US Securities and Exchange Commission, Strive acquired the Bitcoin between Sept. 8 and Sept. 11 at an average price of $77,954 per BTC, including fees and expenses.The biggest crypto by market cap was last trading at $78,823, according to Coingecko data.Strive CEO Matt Cole said the purchase was funded entirely through proceeds from sales of SATA, the company’s perpetual preferred stock, which has now surpassed $1 billion in notional value outstanding. The filing shows SATA shares outstanding increased by 402,541 over the same period to about 10.4 million shares.As of Sept. 11, Strive also held $204.2 million in cash and cash equivalents and 505,000 shares of Strategy’s STRC preferred stock, valued at about $49.8 million.Strive became the fifth-largest publicly traded corporate Bitcoin holder in late August, when a 1,800-BTC purchase pushed it past crypto exchange Bullish. The company was co-founded in 2022 by now-Ohio Republican gubernatorial candidate Vivek Ramaswamy and became a publicly ...