Strive buys $94.5 million in Bitcoin, lifting holdings above 27,000 BTC

Strive bought 1,107 BTC for about $94.5 million between Sept. 21 and Sept. 25. A Form 8-K filed with the SEC on Monday disclosed the purchase. Strive paid an average of $85,396 per BTC, including fees. Strive said its holdings reached 27,462 BTC. The company valued those holdings at about $2.3 billion using Friday's closing price of $83,943. Strive's Bitcoin holdings grew by 1,355 BTC the prior week, based on its previous filings. CEO Matt Cole wrote on X that warrant exercises generated another $12.4 million. Cole said SATA accounted for 85% of total capital raised, including those proceeds. SATA is Strive's variable-rate perpetual preferred stock. SATA pays dividends and lets Strive raise money with less dilution for common shareholders. SATA's share count rose by roughly 1 million during the week to 12.2 million, according to the filing. SATA has a stated amount of $100. Its notional value was about $1.22 billion. Class A common shares rose by about 649,000. Strive's cash increased by $19.2 million to $248.8 million. Earlier this month, Strive bought 469 BTC, bringing its holdings to 25,000 BTC. Strive funded that purchase entirely with SATA. In early September, Strive made a $109 million purchase funded 70/30 between SATA and common stock. Bitcoin Treasuries data ranked Strive fifth among public Bitcoin holders, behind Strategy, Twenty One Capital, Metaplanet and MARA. Twenty One held 43,514 BTC. To catch Twenty One by year-end, Strive would need about 16,050 more BTC, or roughly 1,235 BTC a week. Strategy disclosed a purchase of 1,665 BTC for $142.7 million on Monday. The purchase brought Strategy's holdings to a record 847,666 BTC. Tom Lee's Bitmine bought 17,362 ETH worth about $47 million. That brought Bitmine's holdings to 4.9% of Ethereum's supply.