Strive has purchased 1,800 Bitcoin for about $143 million, raising its treasury to 23,156 BTC and moving past Bullish into fifth place among public corporate Bitcoin holders.
Average Purchase Price of $79,431
The SEC Form 8-K filing showed Strive acquired 1,800 BTC between Aug. 24 and Aug. 28 at an average price of $79,431 per coin, including fees and expenses. The acquisition increased Strive's holdings from 21,356 BTC to 23,156 BTC. BitcoinTreasuries.net data placed the Dallas-based company ahead of crypto exchange Bullish, which holds 22,000 BTC. The new balance made Strive the fifth-largest publicly traded corporate Bitcoin holder, behind Strategy, Twenty One Capital, Metaplanet, and MARA Holdings.
Share Sales Financed the Bitcoin Purchase
Strive has used two Nasdaq-listed securities to raise money for its Bitcoin strategy: ASST common stock and SATA preferred stock. The latest filing showed outstanding Class A common shares increased by 3.58 million during the week. SATA issuance also continued, with preferred shares climbing by 803,099 to 9.07 million. The security carries a $100 liquidation preference. Strive has maintained a 13% annualized dividend rate on SATA and began paying declared cash dividends every business day in June.
Cash Position Rises Despite Bitcoin Purchase
Alongside its Bitcoin acquisition, Strive increased cash and cash equivalents by $11.6 million, from $171.9 million to $183.5 million. The company also continued holding 505,000 shares of Strategy's STRC preferred stock, with a reported fair value of $49.15 million. Strive reported retiring all outstanding short- and long-term debt in August. Its second-quarter results showed a GAAP net loss of $257.6 million, including $234 million linked to declines in Bitcoin and STRC fair value during the quarter.
ASST Stock Extends August Rally
ASST shares rose more than 5% during Monday trading and had gained about 95% during August. The stock's rise followed a sharp increase in Strive's Bitcoin balance and continued issuance under its common-stock program. Across two recent reporting periods, Strive acquired 2,910 BTC for approximately $224.5 million. In June, Strive disclosed plans to add $2.1 billion of capacity to each ATM program, creating up to $4.2 billion in possible new fundraising.
