From July 20th to 24th, Strive acquired 79 bitcoins for approximately $5.2 million. The average purchase price, including fees, was $65,723 per coin. At current market prices, the value of these assets is approximately $1.3 billion. The primary funding source was the issuance of SATA preferred perpetual shares. Recently, the company increased the dividend yield on these shares to about 13% and stated that it continues to direct funds raised from the sale of these securities towards increasing its corporate bitcoin reserve.
Strive has been increasing its holdings of the leading cryptocurrency for the fourth consecutive week. Since May, the company has added about 3,264 $BTC to its portfolio—some of the coins were purchased on the market, and some were obtained through corporate deals. Amid this activity, the price of SATA securities has risen by more than 10% over the past month.
One of Strive's largest purchases this year occurred in May: the company acquired over 2,500 $BTC for approximately $185.2 million at an average price of about $74,092 per coin. A few weeks later, it bought an additional 73 $BTC, but at an average price of $63,646. From June 15th to 21st, Strive bought 759 $BTC, and a week later purchased another 17.76 $BTC. In total, since the beginning of the year, the company has increased its holdings by 3,780 $BTC.
Currently, Strive ranks seventh among public companies in terms of bitcoin reserves—it trails Bullish but surpasses Elon Musk's SpaceX, according to data from Bitcoin Treasury.
Strive's bitcoin purchases are occurring against the backdrop of a pause in acquisitions by the largest corporate holder of the leading cryptocurrency—Strategy. That company has not bought bitcoins for a month now, and recently conducted its first-ever buyback of its preferred shares.
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