Strive increased its Bitcoin holdings by 11.2 percent last week as investors exercised $208 million in warrants, allowing the publicly traded treasury company to purchase 3,311 BTC at an average price of $84,500 per coin.
The purchases, completed in the week ending Oct. 9, brought Strive's total Bitcoin reserves to 32,773 BTC, placing it as the fifth-largest publicly traded corporate holder of Bitcoin. The company's Bitcoin acquisitions outpaced its share issuance, meaning existing shareholders gained greater exposure to the cryptocurrency per share.
Strive disclosed the acquisitions in a Tuesday filing with the U.S. Securities and Exchange Commission. Chairman and CEO Matt Cole confirmed on X that approximately 15.3 million warrants were exercised before their Tuesday expiration.
Bitcoin traded at roughly $83,300 on Tuesday. Strive's common share price remained largely unchanged at $27.52 following the news.
Strive also amended its governing documents to implement a binding $100 minimum issuance price for its SATA preferred shares. These shares were trading at $99.40, establishing a clear floor for future issuance.
Michael Saylor, Chairman of Strategy, said Strive "is turning demand for digital equity (ASST) and digital credit (SATA) into demand for Bitcoin." Saylor's company, the largest publicly traded corporate Bitcoin holder, also added 250 BTC to its treasury last week, bringing its total holdings to 848,250 BTC.
