Strive (ASST) Buys 6,182 Bitcoin For $511 Million, Lifts Treasury To 43,000 BTC
By Micah Zimmerman
AI summary of the source article
Strive, Inc. acquired 6,182 bitcoin for $511.4 million between October 17 and October 23, lifting its treasury holdings to 43,000 BTC. The purchase follows a $630 million gross raise from an offering of its SATS preferred stock.
Why it matters
Chairman and CEO Matt Cole called the SATS IPO “a critical milestone in our strategy to maximize long-term total returns for our common equity investors.”
Key facts
- Strive purchased 6,182 bitcoin for $511.4 million at an average price of $82,732 per bitcoin, lifting holdings to 43,000 BTC.
- The company raised $630 million in gross proceeds by selling 7 million shares of its 15% Perpetual Series A Preferred Stock (SATS).
- A new at-the-market program was disclosed allowing Strive to issue up to $1 billion of SATS preferred stock over time.
Source excerpt · Bitcoin Magazine
Bitcoin Magazine Strive (ASST) Buys 6,182 Bitcoin For $511 Million, Lifts Treasury To 43,000 BTC Strive purchased 6,182 BTC for $511.4 million at an average of $82,732 per bitcoin, increasing its total holdings to 43,000 BTC. This post Strive (ASST) Buys 6,182 Bitcoin For $511 Million, Lifts Treasury To 43,000 BTC first appeared on Bitcoin Magazine and is written by Micah Zimmerman .