TLDR
- Strive (ASST) stock traded up about 8% at $25.95 in late-morning trading Monday.
- An 8-K shows the company bought 1,223 BTC between Oct. 14 and Oct. 16.
- Strive added 4,045 BTC last week for roughly $335 million.
- It now ranks fourth among public corporate Bitcoin holders, ahead of MARA Holdings.
- A $630 million SATS preferred offering is set to settle on Oct. 20.
Strive (ASST) stock traded up about 8% at $25.95 in late-morning trading Monday. The move came after the company disclosed more Bitcoin purchases.
An 8-K filed Monday shows Strive bought 1,223 BTC between Oct. 14 and Oct. 16. Total holdings now stand at 36,818 BTC.
The company paid an average of $81,734 per coin for that batch, or about $100 million. It followed a 2,822 BTC purchase worth $235 million earlier in the week.
Combined, Strive added 4,045 BTC last week for roughly $335 million. A separate filing put the weekly average price at $82,803 per coin.
Strive Moves Ahead of MARA
Strive is now the fourth-largest public corporate Bitcoin holder. BitcoinTreasuries.net values its reserves at about $3 billion.
Strategy leads with 848,517 BTC, followed by Metaplanet at 44,000 and Twenty One at 43,514. MARA Holdings sits fifth with 35,577 BTC.
Arkham tracked wallets tied to MARA moving about $82 million of Bitcoin to Binance and Gate in recent days. MARA was reported to be selling part of its stash.
CEO Matt Cole has said he wants Strive to end the year as the second-largest public holder. Passing Metaplanet would take about 700 BTC per week.
The pace has been quick. The week before, Strive bought 3,311 BTC.
How the Purchases Are Funded
Strive raised about $369 million from warrant exercises on Oct. 12 and 13. That created 13.7 million new common stock units.
Class A stock outstanding rose to 114.8 million. The effective count grew 12.4%, close to the 12.3% jump in Bitcoin holdings.
As a result, BTC per share stayed largely flat. All traditional warrants have now been exercised or have expired, with the last ones lapsing on Oct. 13.
Strive ended Oct. 16 with $317.5 million in cash, up from $310.3 million a week earlier. It also holds 505,000 units of Strategyās STRC preferred stock, valued at $49.3 million.
Last week the company launched SATS, a preferred issue with a fixed 15% annual dividend. Payments would be made each business day starting Nov. 9, subject to board approval.
Strive priced a 7 million unit SATS offering on Oct. 15, expecting about $630 million before expenses. It is set to settle on Oct. 20, subject to customary closing conditions.
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