Strive Adds 3,311 Bitcoin, Reaches 32,773 BTC

Strive reported buying 3,311 bitcoin during the week ending October 9, lifting its holdings to 32,773 BTC, after the company’s largest weekly increase since January. The purchase expanded its balance from 29,462 BTC, an increase of about 11.2%, according to a regulatory filing. The filing put the average purchase price at approximately $84,500 per bitcoin, including fees and expenses, and valued the transaction at about $280 million. The company, a publicly traded bitcoin treasury firm, said its cash and cash equivalents rose to $310.3 million from $284.7 million over the same week, despite the purchase. Its filing also reported that the number of SATA preferred shares outstanding increased by 532,094 to approximately 14.03 million. Strive’s Class A shares outstanding rose by about 9.5 million, while shares underlying outstanding traditional warrants declined by nearly 8 million. Chief Executive Matt Cole said investors had exercised approximately $208 million worth of warrants. He said about 15.3 million warrants remained outstanding ahead of a stated expiration deadline of 5 p.m. Eastern time on October 13.