TLDR
- Strive (ASST) stock rose about 8% to $25.95 in late-morning trading Monday.
- The company bought 1,223 BTC between Oct. 14 and Oct. 16, bringing its total to 36,818 BTC.
- It added 4,045 BTC last week for roughly $335 million.
- Strive is now the fourth-largest public corporate Bitcoin holder, ahead of MARA Holdings.
- A $630 million SATS preferred offering is set to settle on Oct. 20.
Strive (ASST) stock rose about 8% to $25.95 in late-morning trading Monday. The move followed news of another round of Bitcoin buying.
Strive bought 1,223 BTC between Oct. 14 and Oct. 16, according to an 8-K filing. That lifts its total holdings to 36,818 BTC.
The company paid an average of about $81,734 per coin for the latest batch. The purchase cost roughly $100 million.
Earlier in the week, it bought 2,822 BTC for $235 million. That makes 4,045 BTC for the week, at a cost of about $335 million. Strive is not slowing down.
Strive Moves Past MARA in the Rankings
Strive is now the fourth-largest public corporate Bitcoin holder. Its reserves are valued at about $3 billion, according to BitcoinTreasuries.net.
Strategy leads with 848,517 BTC. Metaplanet holds 44,000 BTC, Twenty One has 43,514 BTC, and MARA Holdings has 35,577 BTC.
Arkham tracked wallets linked to MARA sending about $82 million of Bitcoin to Binance and Gate in recent days. MARA was reported to be selling some of its holdings.
CEO Matt Cole wants Strive to finish the year as the second-largest public Bitcoin holder. The firm would need to add about 700 BTC per week to pass Metaplanet.
How Strive Is Paying for the Coins
Strive took in about $369 million from warrant exercises on Oct. 12 and 13. That led to the issue of 13.7 million new common stock units.
Class A stock outstanding rose to 114.8 million. The effective count grew 12.4%, close to the 12.3% rise in Bitcoin holdings.
That left BTC per share largely unchanged. The week before, holdings grew 11.2% while the effective count rose 9.4%.
All traditional warrants have now been exercised or have expired. The last of them expired on Oct. 13.
Strive ended Oct. 16 with $317.5 million in cash, up from $310.3 million a week earlier. It also holds 505,000 units of Strategy’s STRC preferred stock, valued at $49.3 million.
Last week, Strive launched SATS, a preferred issue with a fixed 15% annual dividend. The dividend is payable each business day starting Nov. 9, subject to board approval.
Strive priced a 7 million unit SATS offering on Oct. 15, expecting to raise about $630 million before expenses. Settlement is set for Oct. 20, subject to customary closing conditions.
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