Public asset manager Strive has expanded its Bitcoin treasury, purchasing 1,110 BTC last week as it raised additional capital through the issuance of common and preferred shares. The company’s latest acquisition increases its total Bitcoin holdings to 21,356 BTC, valued at approximately $1.7 billion.
Co-founded in 2022 by Vivek Ramaswamy, Strive increased its Bitcoin holdings by about 5.5% between August 17 and August 21. According to a company filing with the U.S. Securities and Exchange Commission, Strive paid an average of $73,409 per Bitcoin, including fees and expenses.
Share Issuance Funds Expansion
Strive financed the purchases through at-the-market offerings, which allow companies to issue and sell shares at prevailing market prices. While the strategy enabled the company to increase its Bitcoin reserves, the additional equity also diluted the amount of Bitcoin attributable to each fully diluted share.
Strive’s Class A common share count increased by 3,646,300, or 4.8%, reaching 79,890,888 shares. The company also issued 441,313 shares of SATA, its perpetual preferred stock, bringing the total number of SATA shares to 8,270,815, a 5.6% increase.
Despite the increase in shares outstanding, Bitcoin per fully diluted share rose by approximately 1.4% during the period, indicating that the growth in the company’s Bitcoin holdings outpaced the dilution from newly issued securities.
Strive Stronger Liquidity Position
Strive also maintained a healthy cash position following the Bitcoin purchases. As of August 21, the company held $171.9 million in cash and cash equivalents, compared with $154.8 million a week earlier.
The company’s ability to issue SATA shares without pricing them below their $100 face value was supported by the preferred stock trading near or above that level during the period.
Corporate Bitcoin Race Continues
Strive’s latest purchase comes amid continued accumulation by major corporate Bitcoin holders. Japan-based Metaplanet holds 43,000 BTC after adding 2,823 BTC during the second quarter, while Strategy remains the largest corporate holder, with 840,447 BTC.
The latest transaction underscores the growing use of equity and preferred-stock financing by companies seeking to expand Bitcoin reserves as part of long-term treasury strategies.
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