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Strive buys 6,182 bitcoin for $511 million, closing in on Metaplanet for the No. 2 corporate treasury spot
Summary
Strive, Inc. (ASST) bought 6,182 bitcoin for $511.4 million between Oct. 17 and 23 at an average of $82,732 per coin, according to an SEC filing reported by Bitcoin Magazine and The Block on Monday, Oct. 26.
Bitcoin Magazine said the purchase lifts Strive's holdings to 43,000 BTC, and The Block said that puts it within 1,000 BTC of second-place Metaplanet among corporate bitcoin treasuries.
The filing also disclosed a new at-the-market program to sell up to $1 billion of SATS, Strive's 15% perpetual preferred stock, whose proceeds may fund more bitcoin buys among other uses, Bitcoin Magazine reported.
The buy came a week after Strive raised $630 million in gross proceeds in the SATS IPO, according to Bitcoin Magazine.
Key facts
- Strive acquired 6,182 BTC for $511.4 million at an average of $82,732 per bitcoin between Oct. 17 and Oct. 23.
- Strive's holdings now total 43,000 BTC, up from 36,818 BTC reported on Oct. 20.
- The purchase puts Strive within 1,000 BTC of second-place Metaplanet.
- Strive unveiled a new $1 billion preferred stock offering program.
- Strive sold 7 million SATS shares at $90 each for $630 million in gross proceeds and set aside a $157.5 million dividend reserve.
- Strive says it funds purchases with common and preferred equity and carries no debt.
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