BREAKING: Strive Buys Another $185M Bitcoin In BTC Acquisition Spree
Highlights
- Strive has boosted its Bitcoin treasury with the latest $185 million worth of BTC buy.
- The company now holds a stash of 19,000 BTC, ranking seventh in the list of public firms holding Bitcoin.
- Strategy's Michael Saylor supported this initiative with his comment on social media.
Bitcoin treasury firm Strive has added another major BTC acquisition to its digital asset portfolio. It bought over $185 million in BTC recently.
Strive Continues To Buy Bitcoin
The firm acquired an additional 2,500 BTC worth some $185.2 million, according to a post by CEO Matthew Cole on Tuesday. The new purchase came at an average price of approximately $74,092 per Bitcoin.
Moreover, it boosted the Bitcoin holdings of Strive to 19,000 BTC. On X, Cole also shared the transaction with a number of internal performance metrics. These include the Bitcoin yield of 23% for the quarter and 36.7% for the year.
The company also upscaled its cash position and its 18-month dividend payout cushion, Cole added. Furthermore, Strategy Executive Chairman Michael Saylor’s comment on the announcement took the spotlight. Saylor’s reply to the buy reads, “Strive for Bitcoin.”
According to data on Bitcoin Treasuries, Strive’s SATA raised approximately $194.3 million during the last week. The proceeds could have been used to buy the Bitcoin reserve the company just revealed.
Inside The Initiative To Upsize ASST, SATA Stock Offerings
The new acquisition comes after a plan by Strive to significantly increase its capital-raising ability. Cole revealed on Monday that they are planning to expand their at-the-market equity programs for ASST and SATA securities.
“Strive expects to increase the size of both the $ASST and $SATA ATM programs by $2.1 billion each, reflecting a sustained increase in liquidity and demand for both securities,” Cole wrote.
The proposed hike would bring with it an additional combined $4.2 billion in potential fundraising. It would provide the company more flexibility to continue to pursue its overall strategy of acquiring Bitcoin.
It appears as though the firm has already been acquiring resources for additional acquisitions, as evidenced by recent fundraising efforts.
Strive had only made the announcement of its purchase of 1,109 BTC worth approximately $85.4 million just days ago. The transaction was made at around $76,988 per Bitcoin on average.
The latest buying movement comes amid Strategy, the biggest corporate BTC holder, reporting a rare decrease in its Bitcoin holdings. A filing made Monday said it’s been selling some $2.5 million worth of Bitcoin over the last week.
Previously, it also focused on the repurchase of $1.5 billion worth of convertible notes rather than buying BTC.
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