Strive has acquired 3,311 bitcoin for approximately $280 million in its largest weekly purchase since January, according to an SEC filing released Tuesday. The acquisition increased the company's total bitcoin holdings from 29,462 BTC to 32,773 BTC, representing an 11.2% increase in a single week.
The bitcoin was purchased between October 5 and October 9 at an average price of approximately $84,500 per coin, including fees and expenses. The company's two-week accumulation totaled 5,311 BTC at a cost of nearly $449 million, following a 2,000 BTC purchase the previous week worth approximately $169 million.
Funding Sources
Strive funded the acquisition primarily through warrant exercises, generating approximately $208 million. Chairman and CEO Matt Cole noted that about 15.3 million shares underlying outstanding warrants remained eligible for exercise before their expiration at 5 p.m. ET on Tuesday. The company also expanded its preferred stock financing, with Variable Rate Series A Perpetual Preferred Stock (SATA) shares outstanding increasing by 532,094 to approximately 14.03 million.
Despite the substantial bitcoin purchases, Strive's cash and cash equivalents increased by $25.6 million during the week to $310.3 million.
Preferred Stock Developments
In a separate regulatory filing, Strive formalized a commitment not to issue SATA shares below $100 apiece, converting a previously announced policy into a binding restriction. The company maintained SATA's 13% annual dividend rate for November, declaring daily dividends totaling approximately $1.08 per share for the month.
Comparison With Competitors
Strive's latest acquisition far exceeds recent purchases by Strategy, which announced it had acquired just 250 BTC for $21.5 million during its latest reporting period. Strive acquired more than 13 times as much bitcoin as Strategy during their respective buying windows.
However, Strategy remains substantially larger, holding 848,250 BTC valued near $71 billion as of the filing date, compared with Strive's 32,773 BTC worth approximately $2.73 billion. Strategy also spent approximately $192.4 million repurchasing nearly 1.93 million shares of its STRC preferred stock during the period.
Strive currently holds 505,000 shares of Strategy's STRC, valued at approximately $50.3 million as of October 9. According to Bitcoin Treasuries data, Strive ranks fifth among publicly traded bitcoin holders, behind Strategy, Metaplanet, Twenty One, and MARA Holdings.
