Strive, Inc. bought a further 1,223 Bitcoin between 14 and 16 October, taking the company’s total holdings to 36,818 BTC, according to an 8-K filing with the Securities and Exchange Commission.
The latest acquisition cost approximately $100 million and follows the purchase of 2,822 BTC for $235 million on the previous Monday and Tuesday. In total, Strive acquired 4,045 BTC last week.
The purchases have reinforced Strive’s position as the fourth-largest publicly traded corporate Bitcoin holder. Only Strategy, Metaplanet and Twenty One hold more, while MARA completes the top five, according to data from Bitcoin Treasuries.
Strategy has 848,517 BTC, compared with 44,000 BTC held by Metaplanet, 43,514 BTC by Twenty One and 35,577 BTC by MARA.
Strive has made a series of large Bitcoin purchases in recent weeks, frequently acquiring more than Strategy over individual periods. The company is now moving closer to chief executive Matt Cole’s target of finishing the year as the second-largest public Bitcoin holder.
To overtake Metaplanet’s current holdings, Strive would need to buy an average of about 700 BTC per week.
Cash, warrants and preferred shares
Strive reported having $317.5 million in cash and cash equivalents at the end of 16 October, an increase from $310.3 million one week earlier.
Over the same period, the number of the company’s Class A shares in issue rose by approximately 13.7 million to 114.8 million.
The filing also said all of Strive’s traditional warrants had either been exercised or had expired. Warrant exercises earlier in the week generated approximately $369.2 million, while the remaining warrants expired on 13 October.
Strive continues to own 505,000 shares of Strategy’s STRC preferred stock. Those shares were valued at $49.3 million on 16 October.
The number of Strive’s own SATA preferred shares in issue was unchanged at approximately 14 million.
Separately, Strive priced an offering of 7 million SATS preferred shares on 15 October. The company expects the sale to raise approximately $630 million before expenses.
The offering is due to settle on 20 October, subject to customary closing conditions.
