Strive acquired 124 BTC for $10 million, bringing total holdings to 43,124 BTC as it approaches becoming the second-largest public bitcoin holder.
Macro & Markets ·
Strive acquired 124 BTC for $10 million, bringing its total bitcoin holdings to 43,124 BTC. The purchase was completed at an average cost of $80,526 per coin and funded primarily through existing cash reserves. The company's cash and cash equivalents declined from $504.4 million to $490.4 million following the transaction.
The latest purchase marks a sharp pullback from the previous week's activity. Seven days earlier, Strive completed a much larger acquisition of 6,182 BTC for over $511 million. The contrast between the two purchases highlights a significant decline in the company's weekly accumulation rate in dollar-value terms.
The filing also noted that Strive used its SATS ATM for the first time as part of this week's strategy, representing the entirety of weekly ATM proceeds. Holdings of other securities remained largely stable, with preferred stock increasing modestly. The weekly slowdown in purchase magnitude raises questions about the sustainability and pace of Strive's bitcoin accumulation strategy going forward.