Nasdaq-listed bitcoin holder Strive exercised $369 million in warrants and purchased $335 million in BTC, with plans for a $630 million preferred stock offering.
Macro & Markets ·
Strive, a Nasdaq-listed bitcoin holder, deployed $335 million to acquire 4,045 BTC between October 12 and 16 at an average price of roughly $82,803 per coin, lifting its total holdings to 36,818 BTC. The purchase was funded by warrant exercises conducted on October 12 and 13, which brought in approximately $369.2 million through the issuance of 13,674,703 Class A shares; all remaining traditional warrants expired unexercised on October 13. Concurrently, Strive priced a $630 million offering of 15% preferred stock on October 15, with settlement scheduled for October 20.
The capital raise reflects a broader pattern in which publicly traded firms source cash through equity issuance and direct it into bitcoin treasuries, providing retail investors exposure to cryptocurrency through standard brokerage accounts. Strive's Class A share count expanded from 101.2 million to 114.8 million over the week—a roughly 13.5% dilution for existing shareholders—while the company's cash position grew to $317.5 million. The firm's bitcoin holdings have increased nearly threefold since its January acquisition of Semler Scientific, which held approximately 5,000 BTC as of that transaction's approval.
The timing of the offering and the status of any remaining capital deployment plans remain to be seen, particularly as Strive integrates its enlarged asset base and navigates index inclusion rules recently finalized by MSCI targeting companies deemed non-operating.