Key Highlights
- Strive bought 73 BTC for $4.7 million, increasing its holdings to 19,105 BTC as it continued expanding its Bitcoin treasury.
- The company purchased the Bitcoin at an average price of $63,646 per BTC, below the average price paid in its previous acquisition.
- Cash and cash equivalents rose to $141.4 million as Strive continued expanding its Bitcoin holdings.
Strive, a Bitcoin treasury company, purchased 73 Bitcoin (BTC) worth about $4.7 million between June 8 and June 14, according to a June 15 filing with the U.S. Securities and Exchange Commission (SEC). The company paid an average of $63,646 per Bitcoin for the acquisition.
As per the SEC filing, the purchase increased Strive’s Bitcoin holdings from 19,032 BTC to 19,105 BTC, continuing the company’s strategy of adding to its cryptocurrency reserves. Chairman and Chief Executive Matt Cole confirmed the transaction in a post on X, writing, “Strive acquired an additional 73 $BTC for ~$4.7 million at an average cost of ~$63,646 per bitcoin. $ASST $SATA.”
Strive expands Bitcoin strategy after major purchase
The latest purchase was considerably smaller than Strive’s previous Bitcoin acquisition. Earlier this month, the company bought 2,500 Bitcoin for about $185.2 million, increasing its holdings to roughly 19,000 BTC.
According to company disclosures, that purchase was completed at a median price of $74,092 per Bitcoin, compared with an average price of $63,646 for the most recent acquisition.
Strive also reported a stronger cash position during the period. Cash and cash equivalents rose by about $2.2 million to $141.4 million as of June 12. The company continued to hold 505,000 shares of Strategy’s Variable Rate Series A Perpetual Stretch Preferred Stock, with the investment’s fair value increasing from $47.2 million to approximately $47.9 million.
The filing also showed changes in Strive’s share structure. Class A common shares outstanding increased by 483,400 shares to about 69.89 million.
Corporate Bitcoin holdings continue growing
Strive’s Class B shares remained unchanged at 9.78 million, while its SATA preferred stock held steady at approximately 7.51 million shares outstanding, according to the filing.
The company is also seeking additional capital to support its operations and investment activities. On June 1, Cole said Strive planned to expand the size of its ASST and SATA at-the-market programs, adding $2.1 billion of capacity to each. If fully utilized, the programs would provide up to $4.2 billion in combined fundraising capacity. Cole said the decision was driven by improved liquidity and growing investor demand for the two securities.
Strive is not the only company adding to its Bitcoin holdings. Strategy, the largest corporate holder of the cryptocurrency, disclosed that it purchased 1,587 Bitcoin between June 8 and June 14 for about $100 million, paying an average of $63,024 per coin. The company’s total Bitcoin investment has reached $64.07 billion, with an average acquisition price of $75,656 per Bitcoin. Strategy continues to finance purchases through equity and preferred stock offerings.
The latest acquisitions came as Bitcoin recovered from recent weakness. The cryptocurrency was up about 3.5% as of writing to roughly $66,583, reaching its highest level in two weeks. The broader digital asset market also gained ground, with total market capitalization climbing above $2.3 trillion amid improving investor sentiment.
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