While the bitcoin treasury firm Strategy has paused buying for the time being, Strive Inc. disclosed on Tuesday that it purchased another 1,375 bitcoin last week.
Strive Loads up on 1,375 Bitcoin as ASST Jumps 114% in 30 Days
WRITTEN BY
SHARE
Key Takeaways
- Strive grabbed 1,375 bitcoin for $109M last week, lifting its stash to 24,531 BTC.
- Strive’s ASST is on a tear, jumping 114% in 30 days as its bitcoin bet keeps growing.
- Matt Cole says SATA has hit $999M, leaving Strive just a hair shy of the $1B mark.
Strive Adds 1,375 Bitcoin as Treasury Climbs to Fifth Largest
According to the SEC Form 8-K submitted by Strive, the firm’s corporate bitcoin treasury now stands at 24,531 BTC. Strive has gravitated to the fifth-largest bitcoin treasury company by holdings. The business disclosed that it purchased 1,375 bitcoin between Aug. 31 and Sept. 4 and spent around $109 million for the coins. The 8-K notes that Strive paid around $79,281 per unit for the newly acquired cache.
CEO Matt Cole remarked on the social media platform X that capital raised during the week came from sales of Variable Rate Series A Perpetual Preferred Stock, known as SATA. “70% of the capital raised last week came from SATA, which now has $999M notional outstanding. Time to break the billion-dollar wall,” Cole wrote on X Tuesday morning.
SATA is very similar to Strategy’s preferred stock, STRC or Stretch. It is one of Strive’s financing engines that allows it to accumulate more BTC. SATA pays a 13% annualized dividend in cash every business day, and it aims to trade near par; when it trades above, management is allowed to issue shares through an at-the-market (ATM) program.
ASST Rips 114% in 30 Days as Saylor Cheers Strive’s Bitcoin Bet
Unlike other digital asset treasury (DAT) companies, Strive’s common stock ASST has performed well. Over the last five days, ASST has jumped 6.4%, but over the last 30 days, shares have surged by 114%. In mid-August, ASST shares ripped higher as bitcoin buying accelerated and SATA volume increased. After Cole’s statement on X, Strategy founder Michael Saylor responded with a reply that said “₿1,375” featuring a rocket emoji.
Another proponent added:
Superb performance. Keep building.
