Michael Saylor · Bitcoin · Strategy · Coinbase · The Block
Strive ships 2,500 BTC to treasury as Saylor’s Strategy sells
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Strive added 2,500 bitcoin to its corporate treasury over the past week as Michael Saylor's Strategy disclosed its first bitcoin sale in nearly four years.
Key facts
- The filing also showed that Strive increased its cash and cash equivalents to $137.3 million from $93.3 million, while maintaining its roughly $50 million position in Strategy's STRC preferred stock
- Strive shares fell more than 9% to $15.60 in early Tuesday trading amid a crypto market selloff that pushed bitcoin to a nearly one-month low of around $68,500
- Strive purchased the additional BTC between May 23 and June 1 at an average price of $74,092 per bitcoin, according to an 8-K filing released Tuesday
- Cash was increased to maintain an 18-month dividend reserve," Strive CEO Matt Cole said in a post on X, alongside updated company metrics showing a quarter-to-date bitcoin yield of 23%
Summary
Strive purchased the additional BTC between May 23 and June 1 at an average price of $74,092 per bitcoin, according to an 8-K filing released Tuesday. The latest purchase widened Strive's lead over Coinbase and Riot Platforms, both of which it surpassed last week. The filing also showed that Strive increased its cash and cash equivalents to $137.3 million from $93.3 million, while maintaining its roughly $50 million position in Strategy's STRC preferred stock. "Cash was increased to maintain an 18-month dividend reserve," Strive CEO Matt Cole said in a post on X, alongside updated company metrics showing a quarter-to-date bitcoin yield of 23% and a year-to-date bitcoin yield of 36.7%.