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BTC Strive disclosed that it increased its holdings of bitcoins: it purchased 1,355 in five days, and its total position rose to 26,355.
Strive, a Dallas-based Bitcoin treasury company, disclosed on September 21 that it purchased 1,355 bitcoins between September 14 and September 18. According to a Form 8-K filing with the U.S. Securities and Exchange Commission (SEC), the average acquisition price of these bitcoins is approximately US$79,475 per coin (including fees and expenses), increasing the company's total holdings from 25,000 to 26,355. The purchase continues its months-long accumulation plan, making Strive one of the largest Bitcoin holders outside the mining sector.
Five-day Buy Window and Fund Structure
Based on the reported average price, the transaction value of these 1,355 bitcoins is approximately US$107.7 million. The position statement in filings shows that during the same period, the company's cash and cash equivalents increased from $204.2 million to $229.6 million, while the number of outstanding Class A common shares increased by approximately 2.07 million shares. This increase suggests that Strive funds its purchases by continuing to issue shares, a pattern similar to that of other publicly traded companies Bitcoin Treasury, which relies on stock sales rather than operating cash flow as the source of accumulation of funds.
Asset allocation structure based on equity and Bitcoin
The same filing also showed that Strive holds 505,000 STRC preferred shares issued by Strategy, valued at US$49.7 million, which together with its Bitcoin holdings form a portfolio. In addition, the company reported that the number of outstanding SATA perpetual preferred shares issued by it was 11.18 million shares, an increase from the previous 10.4 million shares, and the number of effective ordinary shares was 97 million shares. The balance sheet reflects a typical Treasury corporate structure: integrating Bitcoin, preferred shares and cross-held shares in a peer Treasury company into a single carrier, designed to amplify exposure of underlying asset price fluctuations.
Buying pace accelerates
Since adopting this strategy, Strive has disclosed its Bitcoin purchases almost every week. The previously disclosed purchase volume was 469 bitcoins (announced around September 15), bringing its medium-term position to 25,000 bitcoins. The latest round of additional holdings more than doubled the number, bringing total holdings to 26,355, highlighting that even as Bitcoin prices climbed to multi-month highs, the company has not slowed down but has stepped up its purchases.
Corporate treasury continues to accumulate Bitcoin
Strive 并非本月唯一增持比特币的上市公司。Strategy 公司于9月21日披露了其950枚比特币的购买计划，这是其自8月以来的首次采购。这两家公司的平行披露显示，一小群上市公司已将比特币转化为定期资产负债表配置项目，按既定计划购买而非择时市场操作。目前，两家公司均未就未来进一步积累规模提供指引，因此第四季度企业比特币购买的节奏仍是一个未解之谜。
