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BTC Strive increased its holdings in bitcoin: its holdings leapt to sixth place among listed companies
According to filings filings filed with the U.S. Securities and Exchange Commission (SEC), Strive purchased 2,000 bitcoins (BTC) at an average price of approximately US$84,422 per bitcoin between September 28 and October 2. The acquisition brought Strive's total Bitcoin holdings to 29,462. This position puts it sixth among listed companies, according to BitcoinTreasuries.net, which tracks Bitcoin holdings by listed companies, exchange-traded funds (ETFs) and governments.
At the same time, Strive also announced the establishment of a repurchase line of up to US$500 million to repurchase its SATA preferred shares. The company disclosed the two measures on Monday.
SEC filing disclosure details
Strive stated in its 8-K filing that the average cost of the 2,000 bitcoins purchased this time is approximately US$84,422 per coin, and the price includes related fees and expenses. After previously purchasing 1,107 bitcoins, the company's position at that time was 27,462 bitcoins.
As of September 30, Strive held a total of 28,000 bitcoins, with an average acquisition cost of US$90,170 each. In addition, the company also holds $284.7 million in cash and cash equivalents.
Strive CEO Matt Colew wrote on social media X: "61.5% of the funds raised came from SATA, and warrants generated $56.7 million." Later, Colew clarified: "US$169 million is only the purchase amount of Bitcoin, not the total amount of funds raised during the week."
Establish a $500 million SATA repurchase mechanism
The newly established repurchase mechanism allows Strive to repurchase its variable-rate Series A permanent preferred shares (SATA). The company statement said the move is intended to give management the flexibility to repurchase SATA from time to time when management believes it is in the long-term best interests of the company and shareholders.
Strive pointed out that although the Bitcoin price is still below $100,000, management's current goal is to "increase and maintain the company's Amplification Ratio above 60%." As of September 30, the company's amplification ratio was 55.3%.
This acquisition further consolidates Strive's position as one of the listed companies adopting a bitcoin-based corporate treasury strategy. Strategy, currently the largest publicly traded company Bitcoin holder, also purchased 334 bitcoins in the same week.
