Strive Buys $335 Million in Bitcoin, Reaches 36,818 BTC

Strive said it bought 4,045 bitcoin for about $335 million between October 12 and 16, bringing its holdings to 36,818 BTC, according to a regulatory filing. The company said it paid an average of $82,803 per bitcoin, including costs. The purchases were funded in part by proceeds from warrant exercises that raised about $369.2 million. The warrant exercises took place on October 12 and 13 and resulted in approximately 13.7 million new Class A shares, the filing said. The remaining traditional warrants were either exercised or expired, leaving none outstanding. Strive’s reported purchase total covers the full October 12-16 period. The 1,223 BTC acquired from October 14 to 16, at an average $81,734 each, are part of that total, not an additional purchase. Strive also priced an offering of 7 million shares of its Series A Perpetual SATS preferred stock at $90 per share, targeting about $630 million in gross proceeds. Settlement was scheduled for October 20, subject to customary conditions. The proceeds are intended for general corporate purposes, with further bitcoin purchases among the possible uses. The offering had not yet settled in the reports, so the amount ultimately...