Strive now holds 27,462 bitcoins after new purchase

Strive continues to buy bitcoin almost every week. The Nasdaq-listed company acquired an additional 1,107 BTC for $94.5 million between September 21 and 25. Average price: $85,396 per bitcoin. His reserve now reaches 27,462 BTC, or approximately $2.3 billion at current prices.

Strive adds another 1,107 Bitcoin to its stash

The purchase comes only a few weeks after another acquisition of 1,375 BTC for around $109 million. At the time, Strive had just increased its stash to 24,531 bitcoins. She now owns 27,462. The last batch cost $94.5 million, with an average price of $85,396 per BTC. Strive held 26,355 bitcoins before the operation. The additional 1,107 units appear in a new document submitted to the SEC.

The price paid is higher than the average cost of the entire reserve. This is now around $80,862 per bitcoin. With BTC close to $83,300 at the time of the announcement, the portfolio remained slightly above its average acquisition price.

Not a huge margin. However, Strive does not seem to be slowing down its purchases. The company has accumulated several thousand bitcoins since August and continues to use financial markets to fuel its cash flow.

27,462 BTC and already $2.3 billion

Strive already occupied a significant place among companies that adopted a Bitcoin strategy. At the end of August, the company crossed 21,000 BTC after purchasing 1,110 bitcoins. A little over a month later, the counter shows 27,462 BTC.

More than 6,000 bitcoins have therefore joined the balance sheet in the meantime. At around $83,300 observed on Monday, this reserve represents almost $2.3 billion. Strive remains fifth among listed companies with the largest Bitcoin treasuries, behind Strategy, Twenty One Capital, Metaplanet and MARA Holdings.

The company also maintains cash. Its cash and cash equivalents increased from $229.6 million to $248.8 million despite the new BTC purchases. Strive also owns 505,000 shares of STRC, the floating rate preferred security launched by Strategy.

The balance sheet therefore begins to take a particular form: lots of bitcoin, cash and additional exposure to Strategy. ASST stock benefits in part from this acceleration. It shows an increase of more than 32% over one month. In the shorter term, the movement is less favorable, with around 5% decline over five sessions.

SATA supplies most of the fuel

There remains a fairly concrete question: where does the money come from? Strive relies heavily on SATA, its Nasdaq-listed perpetual preferred stock. Matt Cole, the company’s CEO, says 85% of the capital raised now comes from this vehicle.

Warrant exercises also brought in an additional $12.4 million. The mechanism resembles that developed for several years by Strategy: raise capital on the markets then convert a significant part of these funds into bitcoin. Strategy continues at exactly the same pace. This week, the company purchased an additional 1,665 BTC and surpassed 4% of Bitcoin’s peak supply.

Strive plays in yet another category. Strategy holds over 847,000 BTC. Strive has 27,462. But its progression is rapid. At the end of August, it had only just exceeded 21,000 BTC. A month later, the reserve is already approaching 30,000 units. The latest purchase adds $94.5 million to the bill. And for now, Strive just keeps stacking up.