TheBlock
Strive bought 2,000 BTC for roughly $169 million between Sept. 28 and Oct. 2, its largest purchase since June. The acquisition brings its holdings to 29,462 BTC, worth about $2.55 billion, and leaves the company 6,115 BTC behind MARA. The figures appeared in a Form 8-K filed with the SEC.
Why it matters
Strive funded 61.5% of the capital raised for the purchase through sales of its SATA preferred shares. Warrant exercises generated another $56.7 million, CEO Matt Cole said. The filing also reported nearly $285 million in cash and cash equivalents as of Sept. 30.
Strive acquired 8,137 BTC at an average price of $78,885 during the third quarter. Its year-to-date BTC yield reached 63.2%, and its amplification ratio, measuring preferred equity and debt against the value of its BTC, stood at 55.3%. The company said it aims to push that ratio above 60% while bitcoin remains below $100,000.
Market impact
Strive’s goal of becoming the second-largest publicly traded bitcoin treasury has become harder to reach. Metaplanet ended the third quarter with 44,000 BTC after selling 10,000 BTC and buying back 11,000 BTC. Strive was 14,538 BTC short of that total, while Twenty One held 43,514 BTC.
Strategy remained far ahead with 848,000 BTC after adding 334 BTC for $28.7 million. Bitcoin traded around $86,000 on Monday. Strive’s ASST shares rose about 1.6% to $30.50 in early trading, while SATA preferred shares held at their $100 intended par value.
Frequently asked questions
-
How much bitcoin does Strive hold after its latest purchase?
Strive holds 29,462 BTC, worth roughly $2.55 billion, after buying 2,000 BTC for about $169 million.
-
How was Strive's latest bitcoin purchase funded?
Sales of SATA preferred shares accounted for 61.5% of capital raised. Warrant exercises generated another $56.7 million.
-
How far behind MARA is Strive's bitcoin treasury?
Strive is 6,115 BTC behind MARA, which holds 35,577 BTC.
-
Why is Strive's goal of reaching second place more difficult?
Metaplanet ended the third quarter with 44,000 BTC, putting it ahead of Twenty One and leaving Strive 14,538 BTC short.
-
What bitcoin treasury metrics did Strive report for the third quarter?
Strive said it acquired 8,137 BTC at an average price of $78,885 during the quarter. Its year-to-date BTC yield was 63.2%, and its amplification ratio was 55.3%.
WatcherGuru
WuBlockchain
Crypto News
Glassnode
CryptoSlate
Lookonchain
CoinDesk