Strive buys 759 Bitcoin for $50 million, lifting holdings to 19,864 BTC
The latest purchase was made at a lower average price than Strive’s May buy as the company continued funding its Bitcoin accumulation through its SATA preferred stock structure.
Strive said it bought 759 bitcoin between June 15 and June 21 at an average cost of about $65,850 per coin, lifting its total treasury to 19,864 BTC. The June 22 filing values the purchase at roughly $50 million and puts the average price about 11% below the $74,092 per coin Strive paid in its previous large May acquisition of more than 2,500 BTC, which totaled $185.2 million. Since January, the Vivek Ramaswamy-founded company has added more than 3,700 BTC, including coins acquired through its earlier acquisition of Semler Scientific and ongoing open-market purchases. Strive has been financing the strategy through SATA, a perpetual preferred stock that pays daily dividends at a 13% rate and that the company says helps avoid dilution versus convertible debt or at-the-market common equity issuance. BitcoinTreasuries.net data cited by the company showed SATA raised enough in its first full week of daily dividends to fund an estimated 603 BTC, while Strive ranked seventh among public companies by bitcoin holdings as of June 22 with about $1.3 billion in BTC.
- preferred stock: A class of shares that typically has priority over common stock for dividends and certain claims.
- cost basis: The average price paid for an asset, used to measure gains, losses, or treasury entry points.
- open-market purchases: Asset purchases made directly in public markets rather than through private deals or mergers.