Strive Asset Management adds 2,500 BTC, total 19,000 BTC

Strive Asset Management has significantly expanded its corporate Bitcoin holdings, purchasing 2,500 BTC for approximately $185.2 million between May 23 and June 1. The acquisition, disclosed in an SEC filing and announced by CEO Matt Cole, brings the firm’s total Bitcoin treasury to 19,000 BTC.

The company acquired the Bitcoin at an average price of $74,092 per coin. This purchase follows a previous acquisition of 1,109 BTC for roughly $85.4 million at an average price of $76,988, indicating the latest buy occurred at a lower average cost. According to company disclosures, Strive also increased its cash and cash equivalents to $137.3 million from $93.3 million during the same period, a move Cole said was to maintain an 18-month dividend reserve for holders of its preferred stock.

The purchase arrives as Strive plans a major expansion of its fundraising capacity. The company expects to increase the size of its at-the-market programs for its Class A common stock (ASST) and its Variable Rate Series A Perpetual Preferred Stock (SATA) by $2.1 billion each, adding a combined $4.2 billion in potential capital. Cole stated the planned increase is due to sustained liquidity and demand...