Strive Buys 6,182 Bitcoin and Moves Closer to Second Place Among Corporate Holders

Strive added 6,182 BTC between Oct. 17 and Oct. 23, lifting its total to 43,000 BTC, based on an filing submitted on Monday. The purchase was worth about $511 million.

Strive Cash Position and Share Count

Strive ended Oct. 23 with $504.4 million in cash and equivalents, up from $317.5 million a week earlier. Its Class A shares outstanding grew by about 3.3 million to 118.1 million. The firm still holds 505,000 shares of Strategy’s STRC preferred stock, valued at $50.2 million, compared with $49.3 million the week before.

Strive $1 Billion SATS Preferred Stock Offering

A separate filing on Monday set up an at-the-market program of up to $1 billion for Strive’s SATS preferred stock. Proceeds may go toward more bitcoin purchases, working capital, other investments and general corporate needs. On Oct. 20, the company closed an offering of 7 million SATS preferred shares that raised roughly $630 million before expenses. Those shares pay a 15% annual dividend, and Strive has set aside enough money to cover the first 18 months of payments. The number of SATA preferred shares outstanding stayed near 14 million.