Strive bought 4,045 BTC between October 12 and 16 at an average of about $82,803 per coin, lifting its holdings to 36,818 BTC, worth about $335 million. The purchase was funded by warrant exercises that raised about $369.2 million and added 13,674,703 Class A shares; no traditional warrants remain. On October 15, Strive priced a $630 million offering of 15% SATS preferred stock, set to settle October 20. Class A shares outstanding rose from 101.2 million to 114.8 million in a week, about 13.5%, diluting existing shareholders unless the new cash earns it back.
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- Strive buys $335M in Bitcoin, boosting holdings to 36,818 BTC
Bitcoin treasury company Strive bought 4,045 BTC for about $335 million last week, raising its total holdings to 36,818 BTC, according to a Monday SEC filing. The purchases were made between Oct. 12 and 16 at an average price of $82,803 per coin, including fees. That makes Strive the fourth-largest publicly traded corporate Bitcoin holder, ahead of MARA Holdings, with reserves worth about $3 billion. The company also received about $369 million from warrant exercises and issued 13.7 million common shares, and it priced a $630 million offering of SATS preferred stock carrying a fixed 15% annual dividend, with proceeds that could fund more Bitcoin purchases. ASST shares rose about 7.7% to $25.95 in late-morning trading Monday.
- Strive raising $500 million to buy additional bitcoin with new preferred share class
Strive (ASST) is launching an IPO of a new perpetual preferred stock, SATS, offering a 15% fixed dividend. It aims to sell 5 million shares at $100 each, raising $500 million for bitcoin purchases, income-producing assets or stock buybacks. SATS ranks junior to the existing SATA preferred, which pays a variable rate currently at 13%, and the company plans a dividend reserve covering the first 18 months of SATS dividends at closing. Last week Strive bought 3,311 bitcoin, bringing holdings to 32,773 coins worth about $2.7 billion, up from below 20,000 coins three months ago.
- Robinhood Just Added $25 Million Worth of Bitcoin to Its Balance Sheet. What Are the Big Takeaways for Crypto Investors?
Robinhood Markets (HOOD) disclosed on October 7 that it had bought $25 million of Bitcoin with its own funds to hold on its balance sheet, a move crypto chief Johann Kerbrat told The Block mainly signals commitment to the crypto community. The amount is small against the $5.4 billion of cash and equivalents reported in Q2, and there is no indication of further purchases. At $82,465 on October 12, the stake equals about 302 BTC, too small to move supply or price, though it adds to the 1,215,344 BTC held by public companies, where Strategy leads with 848,250. Robinhood's Q2 crypto revenue fell 38% year over year to $100 million, and the article sees the purchase as a modest positive for Bitcoin holders, suggesting investors watch the next quarterly filing for any further buying.
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Strive, a publicly traded Bitcoin treasury company, grew its holdings by more than 11% last week as investors exercised $208 million in warrants. In the week ending Oct. 9, it bought 3,311 BTC at an average of about $84,500, bringing total holdings to 32,773 BTC, the fifth-largest among public corporate holders. Chairman and CEO Matt Cole said about 15.3 million warrants remained ahead of their Tuesday expiration. The company also set a binding $100 minimum issuance price for its SATA preferred shares, which were trading at $99.40. Bitcoin reserves rose 11.2% while the effective common share count grew 9.4%, and Michael Saylor praised the strategy.
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