Strive Increases Bitcoin Holdings by 1,107 BTC

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by Zainab Kamara

an hour ago

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In a significant move to bolster its cryptocurrency holdings, Strive has made a substantial addition to its Bitcoin treasury. The company has recently acquired over a thousand Bitcoin, further solidifying its position in the competitive landscape of corporate crypto investments. The publication provides the following information: this acquisition brings Strive's total Bitcoin holdings to over 27,400 BTC.

Strive's Major Bitcoin Acquisition

Strive announced on September 28 that it has purchased 1,107 Bitcoin for approximately $945 million, with an average purchase price of $85,396 per BTC during the week of September 21 to September 25. This latest acquisition brings Strive's total Bitcoin holdings to 27,462 BTC, making it one of the largest publicly tracked corporate Bitcoin treasuries in existence.

Funding Sources for the Purchase

The funding for this significant purchase was primarily sourced from Strive's SATA preferred stock, with around 85% of the capital utilized for the acquisition coming from this financing method. As Strive continues to raise capital and expand its Bitcoin portfolio, it is steadily closing the gap with larger institutional holders in the cryptocurrency market.

In a notable development prior to Strive's recent Bitcoin acquisition, BitMine launched its preferred equity offering, successfully raising around $274 million. This initiative is expected to enhance its operations and expand its Ethereum holdings. For more details, see read more.

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