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XMR$602.19Strive Buys 124 BTC for $10M, Holdings Reach 43,124
Strive bought 124 BTC on Oct. 24–30 at an average of about $80,526, roughly $10M. Holdings rose from 43,000 to 43,124 BTC; cash stands at $490.4M.
Strive (Nasdaq: ASST) bought 124 BTC between Oct. 24 and Oct. 30 at an average of about $80,526 per bitcoin, including fees, roughly $10M. The company disclosed the purchase on Nov. 2 in an 8-K filing. Total holdings rose from 43,000 to 43,124 BTC.
Details
According to the 8-K, Strive's cash fell from $504.4M to $490.4M over the week. Its position in Strategy's STRC preferred stayed unchanged at 505,000 shares. SATS preferred shares outstanding grew by 3,418 to 7,003,418.
The Block reports that CEO Matt Cole said the company funded most of its latest purchases from existing cash and used its SATS offering for the first time. We covered the prior large purchase, 6,182 BTC for $511M, earlier.
What it means for the market
The purchase is much smaller than in recent weeks: Strive is holding its position near 43,000 BTC rather than accelerating. The Block ranks Strive fourth among public bitcoin holders; Strategy holds 849,327 BTC. For the live bitcoin price, see the daily brief.
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