Cryptoupdated 2h ago2 min read
Strive Buys 3,311 Bitcoin, Lifting Treasury to 32,773 BTC After $208M Warrant Exercises
This article is an automated aggregation of coverage from news outlets. Our editorials offer in-depth analysis curated by the NewsCord team.
Strive buys 3,311 BTC, raising total holdings to 32,773 BTC. Warrant exercises worth $208 million accompany the purchase, boosting treasury.
Strive adds 3,311 BTC
Strive bought 3,311 Bitcoin, raising its total holdings to 32,773 BTC, and CEO Matt Cole said the purchase lifted the company’s Bitcoin treasury to that level on October 13.
Strive said it completed about $208 million in warrant exercises and that about 15.3 million warrants remained unexercised.
Strive disclosed in a Tuesday filing with the US Securities and Exchange Commission that it purchased 3,311 Bitcoin in the week ending Oct. 9 at an average price of approximately $84,500 per coin.
Cointelegraph reported that Strive’s latest purchases brought its total holdings to 32,773 BTC and made the company the fifth-largest publicly traded corporate Bitcoin holder.
CoinGape said Strive acquired 3,311 BTC for $280 million, bringing its corporate treasury holdings to 32,773 BTC.
Warrants, deadlines, and CEO
Matt Cole wrote on X that investors had exercised $208 million in warrants, with approximately 15.3 million remaining ahead of their Tuesday expiration.
Cointelegraph said Strive’s governing documents were amended to set a binding $100 minimum issuance price for its SATA preferred shares, limiting the company’s ability to issue them below that threshold.
CoinGape reported that about 15.3 million warrants remained outstanding before their scheduled October 13 expiration at 5 p.m. Eastern Time.
Unchainedcrypto said holders of Strive’s traditional warrants exercised $208 million worth ahead of their 5 p.m. ET expiry on Tuesday, and it reported that roughly 15.3 million remained.
Cointelegraph said Strive’s Bitcoin reserves grew 11.2% during the reporting period, outpacing a 9.4% increase in its effective common share count.
SATA floor and market positioning
Strive amended its governing documents to establish a binding $100 minimum issuance price for SATA preferred shares, and Cointelegraph said the change limited Strive’s ability to issue those shares below that threshold. Unchainedcrypto reported that Strive amended the terms of its Variable Rate Series A Perpetual Preferred Stock (SATA) with the Nevada Secretary of State so the company cannot sell new SATA shares below $100 each. The Guardian of this dataset is not present, but Cointelegraph said Strive’s latest purchase increased its holdings by more than 11% last week as investors exercised $208 million in warrants.
Michael Saylor praised Strive’s structure on X, writing, “Strive is turning demand for digital equity (ASST) and digital credit (SATA) into demand for Bitcoin,” and he added that “Its hypergrowth shows how the capital markets are accelerating Bitcoin adoption.” Cointelegraph said Strategy added a comparatively modest 250 BTC to its treasury last week, bringing its total holdings to 848,250 BTC and maintaining its position as the largest publicly traded corporate Bitcoin holder.