Strive Buys Another $185M Bitcoin in Acquisition Spree

Kritika Mehta is a crypto journalist at Coingape with over four years of experience in the financial news sector. She covers blockchain technology, market trends, and the occasional corporate treasury flex. Read full bio

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Highlights: Strive has added $185 million worth of BTC to its corporate treasury. The company now holds a stash of 19,000 BTC, ranking seventh among public firms holding Bitcoin. Strategy's Michael Saylor supported the move with a comment on social media.

Bitcoin treasury firm Strive has added another major BTC purchase to its digital asset portfolio, this time north of $185 million.

Strive Continues To Buy Bitcoin: The firm acquired an additional 2,500 BTC worth approximately $185.2 million, according to a Tuesday post from CEO Matthew Cole. The new purchase came at an average price of around $74,092 per Bitcoin.

Overview of Strive's latest BTC purchase. Source: Matt Cole | X

The buy pushes Strive's total Bitcoin holdings to 19,000 BTC. On X, Cole also shared the transaction alongside a handful of internal performance metrics, including a Bitcoin yield of 23% for the quarter and 36.7% for the year. The company also expanded its cash position and its 18-month dividend payout cushion, Cole added.

Strategy Executive Chairman Michael Saylor's reply to the announcement took a bit of the spotlight. His response to the buy read: "Strive for Bitcoin."

According to data on Bitcoin Treasuries, Strive's SATA raised approximately $194.3 million during the past week. Proceeds may have been used to fund the Bitcoin reserve the company just disclosed.

Inside The Initiative To Upsize ASST and SATA Stock Offerings: The new acquisition follows a plan from Strive to meaningfully increase its capital-raising capacity.

Cole revealed on Monday that the firm intends to expand its at-the-market equity programs for ASST and SATA securities. "Strive expects to increase the size of both the $ASST and $SATA ATM programs by $2.1 billion each, reflecting a sustained increase in liquidity and demand for both securities," Cole wrote.

The proposed bump would bring an additional combined $4.2 billion in potential fundraising, giving the company more flexibility to continue pursuing its stated strategy of acquiring Bitcoin.

It looks like the firm has already been stockpiling resources for additional purchases, judging by recent fundraising activity.

Strive had only just announced the purchase of 1,109 BTC worth roughly $85.4 million days earlier. That transaction cleared at around $76,988 per Bitcoin on average.

The latest buying movement comes amid Strategy, the largest corporate BTC holder, reporting a rare decrease in its Bitcoin holdings. A filing ma