Strive, a publicly traded Bitcoin treasury company, increased its holdings by more than 11% following $208 million in warrant exercises by investors. The company purchased 3,311 Bitcoin (BTC) in the week ending October 9 at an average price of approximately $84,500 per coin, bringing its total holdings to 32,773 BTC.
According to industry data, this positions Strive as the fifth-largest publicly traded corporate Bitcoin holder. The purchases outpaced the company's share issuance, giving existing shareholders greater exposure to Bitcoin during the period.
In a Tuesday Securities and Exchange Commission filing, Strive disclosed that investors exercised $208 million in warrants, with approximately 15.3 million remaining ahead of their Tuesday expiration. The company also amended its governing documents to establish a binding $100 minimum issuance price for its SATA preferred shares.
Strive's Bitcoin reserves grew 11.2% during the reporting period, while its effective common share count increased 9.4%, demonstrating that Bitcoin accumulation outpaced equity dilution.
Michael Saylor, whose company MicroStrategy pioneered the corporate Bitcoin treasury model, commented on Strive's strategy, stating that the company is converting demand for its digital equity and credit instruments into Bitcoin purchases. MicroStrategy added 250 BTC to its treasury last week, bringing its holdings to 848,250 BTC and maintaining its position as the largest publicly traded corporate Bitcoin holder.
