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Strive Bitcoin holdings grow after share issuance

Strive, a public asset manager, significantly increased its Bitcoin holdings by 1,110 BTC, bringing its total to 21,356 BTC. This acquisition, valued at approximately $81.5 million, was executed between August 17 and August 21 at an average price of $73,409 per Bitcoin, including fees, demonstrating the growth of Strive Bitcoin holdings.

The company funded these purchases through the issuance of 3.65 million common shares and 441,313 preferred shares via at-the-market offerings. Following these transactions, Strive reported $171.9 million in cash and cash equivalents as of August 21.

Impact on Share Structure and Capital

While Strive's Bitcoin holdings increased by 5.5% during this period, the issuance of new shares resulted in a more modest 1.4% rise in Bitcoin per fully diluted share. The company's Class A share count increased by 4.8% to 79,890,888, and its perpetual preferred stock shares rose by 5.6% to 8,270,815.

The preferred shares, known as SATA, traded at or above their $100 face value, enabling their issuance without pricing below this threshold. This strategy allowed Strive to raise capital efficiently to fund its Bitcoin acquisitions.

Simonas Brazionis

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Simonas is a crypto and blockchain expert with 6 years of experience. Passionate about the industry he educates others on blockchain technology, and continuously expands his knowledge. He has helped many newcomers understand crypto, navigate investments, and stay informed about trends like DeFi and NFTs.