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BTC Strive's largest bitcoin purchase since June
According to filings with the U.S. Securities and Exchange Commission (SEC), Strive (Nasdaq: ASST) purchased approximately 2,000 bitcoins between September 28 and October 2, with a total value of approximately $169 million. This move brought the total number of bitcoins it holds to 29,462.
The transaction is the company's largest single purchase since June. The company, led by Vivek Ramaswamy, raised funds by exercising SATA preferred shares and warrants to purchase these bitcoins at an average price of $84,422 each. CEO Matt Cole confirmed that 61.5% of the funds raised during the period came from SATA and that the exercise of warrants generated $56.7 million.
With Monday's intraday price fluctuating at about $86,000, Strive's Bitcoin holdings are valued at about $2.55 billion.
The gap with MARA further narrows
Currently, Strive lags behind MARA in terms of bitcoin holdings by 6,115, but this gap has narrowed significantly as Strive accelerates its accumulation. MARA's total Bitcoin inventory is 35,577, worth nearly $2.7 billion.
Although Strategy still controls Bitcoin reserves that are nearly 29 times larger than Strive's, Strive's latest purchase this week is more than six times its most recent addition of 334 bitcoins. The accumulation in the third quarter was considerable. Strive purchased an additional 2,000 bitcoins worth $168.84 million at an average price of $84,422 each, bringing its total bitcoin purchases since August 24 to 8,106.
As of September 30, Strive held 28,000 bitcoins with a fair value of approximately US$2.34 billion, with an average cost basis of US$90,170 each. This means that the price of the latest Bitcoin purchase is much lower than the company's mixed average entry price.
This large purchase reflects a broader trend of listed companies using Bitcoin as their main treasury reserve asset. As Strive continues to close the gap with large institutional holders, it continues to file cumulative weekly disclosures with the SEC.
