Strive increases Bitcoin holdings to 24,531 BTC

Strive, a Nasdaq-listed asset manager, has significantly increased its Bitcoin holdings through aggressive acquisitions. Between August 31 and September 4, the company purchased 1,375 BTC for approximately $109 million at an average price of $79,281 per coin. This latest acquisition brings Strive’s total holdings to 24,531 BTC, valued at roughly $1.9 billion at current market prices.

The company is utilizing its Variable Rate Series A Perpetual Preferred Stock (SATA) to fund these purchases. CEO Matt Cole reported that 70% of the capital raised last week was sourced from SATA, which now has a notional value of $999 million outstanding. Chief Risk Officer Jeff Walton noted that the company has seen three consecutive weeks of over 5% growth in its Bitcoin holdings, representing a 21.1% increase over the last three weeks.