Strive, Inc. is aiming to acquire about 20,000 more Bitcoin (BTC), a proposed expansion of a treasury the company reported at 36,818 BTC as of Oct. 16.
In an Oct. 19 filing, Strive disclosed holdings of 36,818 BTC. Its reported balance was 32,773 BTC on Oct. 9, after purchases of 4,045 BTC from Oct. 12-16. Those purchases averaged about $82,803 per BTC, including fees and expenses. Strive has not reported completing the additional 20,000-BTC purchase.
Strive closed its SATS preferred-share sale Oct. 20. It priced 7 million shares at $90 each, for about $630 million in gross proceeds before costs. The final prospectus estimated net proceeds of $608.15 million.
Bitcoin purchases were among several possible uses for the net proceeds, alongside working capital, income-generating assets, acquisitions and share repurchases. The prospectus assigned no specific amount to Bitcoin, and Strive did not say the sale would fund the 20,000-BTC target.
