Strive adds 469 Bitcoin to treasury, holdings reach 25,000 BTC

Strive adds Bitcoin — Asset manager Strive purchased 469 Bitcoin last week, bringing its total holdings to 25,000 BTC and solidifying its position among the largest corporate treasuries.

The acquisition, valued at approximately $36.6 million, was executed between September 8 and 11 at an average price of $77,954 per Bitcoin, according to a filing with the U.S. Securities and Exchange Commission. CEO Matt Cole stated the purchase was funded entirely through proceeds from sales of the company’s SATA preferred stock, which now exceeds $1 billion in notional value outstanding.

Strive’s stock price has rallied alongside its Bitcoin accumulation, gaining over 7% on Monday to extend a surge that has more than doubled its share price in the past month. The company’s market capitalization now stands at roughly $2.5 billion, surpassing that of Japanese firm Metaplanet despite Metaplanet holding more Bitcoin.

Cole has previously suggested it is possible for Strive to become the second-largest publicly traded corporate Bitcoin holder by the end of the year. The company became a top-five corporate holder in late August after a separate 1,800-BTC purchase.