The Vivek Ramaswamy-founded firm estimates it could potentially use more than $700 million in outstanding warrants to generate up to $1.4 billion for further Bitcoin purchases.
Strive bought 1,375 BTC for about $109 million between Aug. 31 and Sept. 4, increasing its Bitcoin treasury to 24,531 BTC worth about $1.9 billion, CEO Matt Cole said Tuesday. The company paid an average of $79,281 per Bitcoin.
Cole said SATA preferred-stock sales accounted for 70% of the capital raised during the period, pushing the security’s outstanding notional volume close to $999 million.
SATA shares outstanding increased by 921,511 to nearly 10 million, while Strive’s cash and equivalents climbed to $202.6 million. Its 505,000 shares of Strategy’s STRC preferred stock were unchanged.
Strive is now on pace to challenge Twenty One Capital for the No. 2 spot among public Bitcoin treasuries. The Tether-backed firm currently holds 43,514 BTC.
Cole said the company could potentially raise as much as $1.4 billion from more than $700 million in outstanding warrants.
