Bitcoin Magazine Strive (ASST) Buys 6,182 Bitcoin For $511 Million, Lifts Treasury To 43,000 BTC
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. Payments, if declared by the board, start November 9 and land on each business day.
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