Strive has strengthened its position among corporate Bitcoin holders after purchasing 1,800 $BTC for approximately $143 million. The acquisition increased the company’s Bitcoin treasury to 23,156 $BTC, moving Strive ahead of Bullish and into fifth place.
Strive bought the Bitcoin between August 24 and August 28 at an average price of $79,431 per coin. The latest purchase extends the company’s aggressive Bitcoin accumulation strategy.
Strive accelerates its Bitcoin strategy
The purchase follows Strive’s acquisition of 1,110 $BTC during the previous week. As a result, the company added 2,910 $BTC over two weeks for approximately $224.5 million.
The buying spree highlights Strive’s growing commitment to Bitcoin as a central treasury asset. The company now ranks behind Strategy, Twenty One Capital, Metaplanet, and MARA Holdings.
Equity issuance supports Bitcoin purchases
Strive continues to fund its Bitcoin expansion through ASST common stock and SATA preferred stock programs. Its Class A share count increased by 3.58 million during the most recent reporting quarter.
The number of SATA shares also rose by 803,099 to approximately 9.07 million. However, issuing additional equity can reduce the value held by existing shareholders.
Strive has created up to $4.2 billion in potential fundraising capacity. The company could use that capital to purchase more Bitcoin if market prices are favorable, giving it substantial room to expand its treasury further.
Related: Ripple Emerges as Top Holding in New York-Traded C1 Fund
Source: cryptonews.net
