Strive Inc. reported a 63.2% year-to-date Bitcoin (BTC) Yield through Sept. 30, then disclosed a larger treasury in a separate U.S. securities filing, setting out two measures of its bitcoin strategy.
Its third-quarter earnings release put the yield at 18.5% for the quarter and 63.2% from the start of the year through Sept. 30. A separate Form 8-K filed Nov. 9 reported a purchase of 29 BTC from Oct. 31 through Nov. 6 at an average $75,721 per coin, including fees and expenses.
The filing listed 43,124 BTC on Oct. 30 and 43,153 BTC on Nov. 6, matching the 29 coins bought during the period. Strive had reported 36,818 BTC on Oct. 16, then 43,000 BTC on Oct. 23 after purchases of 6,182 BTC from Oct. 17-23, as detailed in an earlier report on the October filings. The latest average purchase price was below the $82,732 reported for the Oct. 17-23 purchases; both averages included fees and expenses.
Strive uses BTC Yield to track changes in bitcoin per share over a reporting period. The company says the metric is not traditional financial yield and does not measure returns earned by shareholders. The yield reading ends Sept. 30, while the latest treasury balance is dated Nov. 6, so the figures are not a same-date snapshot.
Strive Chief Investment Officer Ben Werkman has said the per-share measure helps assess bitcoin treasury companies. He argues that share sales used to fund purchases benefit existing holders if BTC per share rises; if the measure falls, current holders effectively subsidize new investors.
