Bitcoin treasury firm Strive, led by CEO Matt Cole, has continued its aggressive accumulation strategy with the purchase of 789 BTC valued at approximately $61.43 million. The latest transaction was completed at an average price of about $77,890 per bitcoin, further strengthening the company’s position among the largest corporate holders of the digital asset.
Following this addition, Strive’s total bitcoin reserves have reached 14,557 BTC, worth roughly $1.3 billion at current market prices. This places the firm as the ninth-largest corporate bitcoin holder, ranking ahead of bitcoin mining company Hut 8 while remaining behind major crypto platform Coinbase, according to treasury tracking data.
Capital Market Strategy Supports Bitcoin Accumulation
Strive has financed much of its bitcoin expansion through capital market activities, including its Variable Rate Series A Perpetual Preferred Stock (SATA) program. The preferred shares are structured to maintain a strike price between $99 and $100 while offering a variable monthly dividend, recently increased to 12.75%.
The company raised about $160 million in its initial SATA offering and an additional $225 million in a larger follow-on sale. Strive also announced plans to partner with Tuttle Capital Management to launch an ETF designed to track SATA alongside Strategy’s Variable Rate Series A Perpetual Stretch Preferred Stock (STRC).
Earlier accumulation efforts included purchasing 5,886 BTC through a PIPE investment and acquiring 5,048 BTC via the acquisition of Semler Scientific last year.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.
