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ZEC $1,115 Strive Bitcoin holdings top 36,800 BTC after another $100M purchase
Strive bought 1,223 BTC at an average of $81,734, lifting its treasury to 36,818 BTC as it prepares to settle a preferred stock offering.
Key takeaways
- Holdings reach 36,818 BTC. Strive's treasury rose to 36,818 BTC after the latest 1,223 BTC purchase.
- Average price was $81,734. The company paid about $81,734 per coin, fees and expenses included.
- Offering settles Oct. 20. Strive priced a $700 million SATS preferred offering expected to raise about $630 million before costs.
What happened
Strive bought another 1,223 BTC for about $100 million, the company said on Oct. 19. The average price was $81,734 per coin, according to CEO Matt Cole's announcement. The purchase lifted Strive's reported holdings to 36,818 BTC.
A Form 8-K filed Monday shows the coins were bought between Oct. 14 and Oct. 16, with fees and expenses included in the average price. The purchase completed a week in which Strive added 4,045 BTC at an average of roughly $82,803. Strive held 32,773 BTC as of Oct. 9.
Cash and cash equivalents rose to $317.5 million from $310.3 million over the same stretch. Strive also holds 505,000 shares of Strategy's STRC preferred stock, valued at $49.3 million as of Oct. 16.
First $84.4KLatest $82.6K-2.2% over the period
Points are daily observations, not closing prices.
Why it matters
The buying came alongside new financing. Holders exercised 273,493,909 warrants on Oct. 12 and Oct. 13 for 13,674,703 Class A shares, bringing in roughly $369.2 million in gross proceeds. That pushed the Class A share count to 114,847,610 from 101,169,907.
On Oct. 15, Strive priced a 7 million-share offering of its SATS preferred stock, which pays a 15% dividend, at $90 a share. The deal has a $700 million stated amount and is expected to raise about $630 million before underwriting costs and expenses. It is scheduled to settle Tuesday, Oct. 20.
Strive said it intends to raise its dividend reserve at closing to cover the first 18 months of SATS payments, setting aside the equivalent of $22.50 per SATS share. The pricing release listed bitcoin and bitcoin-related products among planned uses of net proceeds.
What the data shows
Three purchases announced in eight days added 7,356 BTC, raising Strive's holdings by roughly 25%. The sequence began with 3,311 BTC in the week ending Oct. 9 and continued with 2,822 BTC reported on Oct. 14.
Strive's reported treasury equals roughly 0.175% of Bitcoin's 21 million coin supply limit. Bitcoin traded near $82,560 on Oct.
Questions readers ask
How much Bitcoin does Strive hold?
Strive holds 36,818 BTC after buying 1,223 BTC for about $100 million at an average of $81,734 per coin.
When does Strive's SATS preferred offering settle?
The $700 million SATS preferred offering is scheduled to settle Tuesday, Oct. 20, subject to customary closing conditions. Strive expects it to raise about $630 million before underwriting costs and expenses.
How much Bitcoin did Strive buy in its latest purchases?
Three purchases announced in eight days added 7,356 BTC, raising Strive's holdings by roughly 25%.
Sources · 4 publishers
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Strive Bitcoin holdings top 36,800 BTC after another $100M purchase -
Strive Lifts Bitcoin Holdings to 36,818 BTC Ahead of $700 Million SATS Settlement -
Strive Adds 1,223 Bitcoin to Its Treasury, Raising Total BTC Holdings to 36,818 -
Strive scoops up another 1,223 bitcoin for $100 million as total holdings reach 36,818 BTC
