Strive Buys 6,182 Bitcoin For $511 Million, Lines Up $1 Billion ATM To Buy More

Bitcoin Magazine Strive Buys 6,182 Bitcoin For $511 Million, Lines Up $1 Billion ATM To Buy More Strive, Inc. (ASST) acquired 6,182 bitcoin for $511.4 million between October 17 and October 23, according to an SEC filing published on Monday. The company paid an average price of $82,732 per bitcoin. The purchase lifts Strive’s holdings to 43,000 BTC. Cash and marketable securities rose by $187.7 million to $554.6 million over the same period. The buy comes one week after Strive closed its upsized initial public offering of SATS, its 15% Perpetual Series A Preferred Stock. The company sold 7 million shares at $90 each for $630 million in gross proceeds. Dividends accrue at 15% on a $100 stated amount, which works out to a 16.67% yield at the issue price.

First reported by Bitcoin Magazine. This page is a short excerpt; the full text is theirs.