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Strive Acquires 72 Bitcoins Valued at $8.26 Million

Strive, a Bitcoin treasury company, boosts holdings to 5,958 BTC through a warrant-funded purchase amid recent share price volatility.

BTC

Summary

According to its official statement, Strive has purchased approximately 72.3 BTC for about $8.26 million at an average price of $114,303 per coin. The acquisition was funded via the exercise of around 6.11 million traditional warrants at $1.35 per share, tied to its previously disclosed $750 million PIPE financing. This brings the firm’s total Bitcoin holdings to roughly 5,958 BTC, acquired at a total cost of $691.3 million with an average purchase price of $116,032 per BTC. Shares fell 13.5% premarket following a sharp rally over the past two sessions.

Terms & Concepts
  • Bitcoin Treasury: A corporate strategy involving the accumulation of Bitcoin as a reserve asset for future value appreciation or balance sheet diversification.
  • BTC: The ticker symbol for Bitcoin, the first and most widely recognized cryptocurrency, used for trading and market reference.
  • PIPE Financing: Private Investment in Public Equity, a funding method where private investors buy shares of publicly traded companies at a set price.