Strive Buys 6,182 BTC for $511M, Holdings Reach 43,000

Strive (Nasdaq: ASST) bought 6,182 BTC between Oct. 17 and Oct. 23 at an average price of about $82,732 per bitcoin including fees, roughly $511 million, according to an 8-K filing the company submitted on Oct. 26. Its bitcoin holdings stood at 43,000 BTC as of Oct. 23, up from 36,818 BTC on Oct. 16.

Details

The buying. Strive ended the prior week with 36,818 BTC, as we reported. The new tranche adds 6,182 BTC for Oct. 17⁠–⁠23.

Cash. Cash and equivalents rose from $317.5 million to $504.4 million, up $186.9 million. Strive also holds 505,000 shares of Strategy's STRC preferred stock, with a fair value of $50.2 million versus $49.3 million a week earlier.

Capital. The filing shows 7,000,000 shares of 15.00% Series A Perpetual SATS Preferred outstanding, none a week earlier, as the offering closed. Class A and Class B common shares combined rose from 124.06 million to 127.33 million.

What it means for the market

The rise in cash and share count points to SATS and share sales as funding, though the 8-K does not say so directly. The company still holds more than $500 million in cash. The 8-K does not say how much of that will go into further BTC buying. Follow price and news on the daily brief and the bitcoin page.