Strive releases 2,000 bitcoin in biggest buy since June, closes in on MARA
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Strive picked up another 2,000 bitcoin for roughly $169 million last week, marking its largest purchase since June, putting it in striking distance of MARA for the fourth-largest public BTC treasury.
Key facts
- The company purchased the bitcoin between Sept. 28 and Oct
- The acquisition was Strive's largest since it bought 2,500 BTC on June 2 and leaves the company 6,115 BTC behind MARA, which holds 35,577 BTC
- Japan's Metaplanet ended the third quarter with 44,000 BTC after selling 10,000 BTC and subsequently buying back 11,000 BTC to "demonstrate liquidity
- Its year-to-date BTC yield has reached 63.2%, while it reported an amplification ratio, a measure of its preferred equity and debt to the value of its BTC, of 55.3% and said it aims to push
Summary
The company purchased the bitcoin between Sept. 28 and Oct. 2 at an average of around $84,422, bringing its total to 29,462 BTC worth roughly $2.55 billion, according to a Form 8-K filed with the SEC on Monday. The acquisition was Strive's largest since it bought 2,500 BTC on June 2 and leaves the company 6,115 BTC behind MARA, which holds 35,577 BTC. Strive funded the latest purchases primarily through sales of its SATA preferred shares, which accounted for 61.5% of capital raised, while warrant exercises generated $56.7 million, according to CEO Matt Cole. Strive also included preliminary metrics for the third quarter in the 8-K filing, revealing it acquired 8,137 BTC at an average price of $78,885 during the period.