Strive Surpasses Coinbase to Become Seventh-Largest Corporate Bitcoin Holder

According to a May 26 filing, Strive added 1,109 Bitcoin between May 19 and May 22 at an average price of $76,989 per coin, increasing its total holdings to 16,500 BTC and becoming the seventh-largest listed corporate Bitcoin treasury holder after surpassing Coinbase. The company said cash and cash equivalents rose to $93.3 million from $87.3 million, while its holdings of Strategy Inc.’s STRC preferred stock were valued at more than $50 million. Strive is evaluating refreshed at-the-market programs for its Class A common stock and SATA preferred stock to preserve flexibility for additional Bitcoin purchases. ASST shares have risen 133% over the past three months, and the company said SATA preferred stock is scheduled to begin daily cash distributions on June 16 with a stated 13% annual rate and an effective yield of about 13.88% through frequent compounding. The newer report adds that Strive’s rapid accumulation highlights broader corporate balance-sheet adoption of Bitcoin and the market attention paid to company treasury activity.

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