Strive Adds 124 Bitcoin and Taps Its New Preferred Stock Program for the First Time

Strive picked up 124 more coins between Oct. 24 and Oct. 30, pushing its total stash to 43,124 BTC, according to a Monday regulatory filing. That is a much smaller haul than the roughly $1.25 billion of bitcoin it bought across October. The company sits in fourth place among public holders, and CEO Matt Cole still wants it to finish the year as the second largest.

SATS Preferred Stock Program and Cash Position

Cole said most of the latest purchases were paid for with cash already on hand, though the firm also used its SATS preferred stock at-the-market program for the first time. That program opened on Oct. 26 and lets Strive sell up to $1 billion of shares to buy bitcoin and cover other corporate needs. Cash and equivalents closed Oct. 30 at $490.4 million, down $14 million from a week earlier.

Other Strive Holdings

The company also owns 505,000 shares of Strategy’s STRC preferred stock, worth about $50.1 million, and its SATA preferred shares outstanding stayed flat at just over 14 million.