Strive buys 6,182 BTC in its largest single purchase to date
Macro & Markets ·
The company's bitcoin holdings reach 43,000 BTC after a $511 million acquisition made over the past week.
Strive purchased 6,182 BTC for over $511 million at an average price of $82,732 per unit, according to CryptoPotato, which cited an announcement from CEO Matt Cole. The buy surpasses the company's previous largest acquisitions, including a 3,311 BTC purchase weeks earlier and a roughly 2,500 BTC haul spanning May and June. Total holdings now stand at 43,000 BTC, a new high in bitcoin terms for the company.
In dollar terms, the picture is more mixed. The stash is valued at just under $3.5 billion, even though bitcoin's price has slipped toward the $80,000 level since the purchase, pulling down the USD equivalent of the holdings. Last week, after a more modest 1,223 BTC acquisition, the company's total stash had been valued at over $3 billion, with bitcoin trading slightly higher at the time.
Alongside the purchase, Strive reported that cash and marketable securities rose by $187.7 million to $554.6 million, which points to continued capital raising through preferred stock while preserving liquidity for dividends and operations. The company also established a $1 billion ATM program for its SATS preferred stock, extending a debt-free approach of issuing dividend-bearing securities such as SATA and SATS to fund further bitcoin purchases.
The ATM program carries a 15% annual dividend and is structured so proceeds can potentially be directed toward bitcoin purchases, according to wublockchain.xyz. That mechanism mirrors the pattern behind the latest buy, in which preferred stock issuance appears to have funded the acquisition while keeping cash reserves intact.
What remains unclear is how much of the newly launched $1 billion ATM program has been drawn on so far, and whether Strive will continue purchases at a similar pace if bitcoin's price stays near the $80,000 range. The company's approach of pairing preferred stock issuance with large, infrequent purchases leaves open the question of how it will balance dividend obligations against further accumulation.