Strive, a U.S.-based Bitcoin treasury firm, today reported adding another 789 Bitcoin (BTC) to its holdings. CEO Matt Cole announced the update on X, stating that the company now holds about 14,557 BTC worth roughly $1.3 billion.
The latest purchase cost about $61.43 million, with an average price of $77,890 per Bitcoin. Based on data from Bitcoin Treasuries, the move places Strive among the top corporate holders of Bitcoin, ahead of mining firm Hut 8 but still behind Coinbase.
Strive has been funding part of its accumulation through a financial product known as the Variable Rate Series A Perpetual Preferred Stock (SATA).
The firm raised around $160 million in its initial SATA offering and later secured about $225 million in an expanded follow-on raise.
In addition, Strive is working with Tuttle Capital Management to launch a new exchange-traded fund (ETF). This ETF reportedly tracks SATA alongside a similar preferred stock linked to Strategy, the largest corporate Bitcoin holder.
Source: X.com
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