Strive Adds 2,822 Bitcoin to Its Treasury as Warrant Exercises Raise $369 Million

Bitcoin treasury company Strive has made another large purchase, funded by investors who chose to cash in nearly all of the company’s outstanding warrants.

Strive Bitcoin Purchase and Total Holdings

The company bought 2,822 BTC for about $235 million between Oct. 12 and Oct. 13, paying an average of roughly $83,266 per coin including fees and expenses. That lifts its total to 35,595 BTC and makes it the fourth largest corporate bitcoin holder.

Warrant Exercises Reach 94% Participation

Investors exercised warrants covering 13,674,703 shares of Class A common stock, producing expected gross proceeds of $369.2 million. With the remaining traditional warrants now used, total participation stands at 94%.

Proposed SATS Preferred Stock Offering

Strive has also proposed a public offering of 5 million shares of its 15% Series A Perpetual SATS preferred stock, priced at a stated $100 per share. Proceeds could go toward bitcoin and related purchases, income generating assets, working capital and other corporate needs. The offering still depends on market and other conditions.