News · Institutions & ETFs
The firm purchased 6,182 BTC for $511.4 million and launched a program to sell up to $1 billion in preferred shares.
Key point 1 of 3
01
Strive purchased 6,182 BTC for $511.4 million between Oct. 17 and Oct. 23, reaching a total treasury of 43,000 BTC.
Key point 2 of 3
02
The firm filed a prospectus to issue up to $1 billion in 15% Series A Perpetual SATS Preferred Stock via an at-the-market program.
Key point 3 of 3
03
Strive's total 43,000 BTC reserve has an aggregate cost basis of $3.8 billion, averaging $87,785 per bitcoin.
Context
Strive has rapidly scaled its bitcoin treasury strategy following the initial public offering of its high-yield SATS preferred stock structure.
Why it matters
The firm expands its capacity to purchase spot bitcoin using capital markets proceeds, joining other corporate issuers in leveraged treasury strategies.
What to watch
The upcoming Nov. 6 record date and Nov. 9 payment date for Strive's declared $0.8710 per share initial SATS dividend.
Sources
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