Image Credit: strive.com
Strive bought 1,110 Bitcoin for approximately $81.5 million between August 17 and August 21, expanding its corporate treasury as its outstanding share count also increased. The company paid an average of $73,409 per Bitcoin, including fees and expenses.
The purchase increased Strive’s Bitcoin holdings from 20,246 BTC to 21,356 BTC, a rise of about 5.5%. The company disclosed the transaction in an August 24 filing with the U.S. Securities and Exchange Commission.
Share Count Rises Alongside Bitcoin Holdings
Strive’s Class A common shares outstanding increased by 3,646,300 during the same period, reaching 79,890,888. Its SATA perpetual preferred shares also increased by 441,313 to 8,270,815.
The company’s assumed fully diluted share count rose from about 89.3 million to 92.95 million. With both Bitcoin holdings and the assumed fully diluted share count increasing, Bitcoin per fully diluted share rose by about 1.4%, compared with a 5.5% increase in total Bitcoin holdings. Strive said in its filing that it purchased 1,110 bitcoin at an average price of approximately $73,409 per bitcoin.
Strive’s Cash Balance Also Increases
Strive ended August 21 with $171.9 million in cash and cash equivalents, up from $154.8 million on August 14. The increase occurred during the same week that the company completed the $81.5 million Bitcoin purchase and expanded its common and preferred share counts.
The filing also showed that Strive continued to hold 505,000 shares of Strategy’s STRC preferred stock. The fair value of that position increased from about $47.9 million to $48.6 million during the period.
Bitcoin Treasury Reaches 21,356 BTC
The latest acquisition takes Strive’s Bitcoin treasury above 21,000 BTC. BitcoinTreasuries data ranked the company as the seventh-largest publicly traded corporate Bitcoin holder following the purchase.
Strive has continued issuing common and preferred shares alongside its Bitcoin accumulation strategy. Its latest filing also explicitly lists dilution from additional Class A or SATA share issuance among the risks facing shareholders.
