Strive buys Bitcoin again, adding 469 coins for about $36.6 million. Consequently, the company now holds exactly 25,000 BTC as of September 11.
Why Strive buys Bitcoin matters
Notably, Strive’s Form 8-K filing confirmed the purchase. Specifically, it occurred between September 8 and September 11. Meanwhile, the average price was approximately $77,954 per coin.
Before the transaction, Strive held 24,531 BTC. In addition, the additional 469 BTC brought its balance to 25,000. Additionally, CEO Matt Cole shared an updated tracker on X. “Wall-breaking season at Strive,” Cole wrote.
Recent purchases built the treasury
Previously, Strive acquired 1,800 BTC for about $143 million. Meanwhile, this happened between August 24 and August 28. Meanwhile, the average price was $79,431 per coin. Consequently, that purchase lifted holdings to 23,156 BTC.
Later, purchases added 1,375 BTC. Finally, the latest 469 BTC completed the move. As a result, Strive expanded by 1,844 BTC after reaching 23,156 BTC.
SATA preferred stock funded the purchase
Notably, Strive financed the latest purchase through SATA preferred stock. Specifically, this security trades under the SATA ticker. Generally, preferred shares sit above common stock for claims. Therefore, this limits common share dilution.
According to the disclosure, SATA nominal issuance value passed $1 billion. Consequently, the program has become a central funding source. However, earlier rounds also used common equity.
Balance sheet includes cash and STRC
Apart from its 25,000 BTC treasury, Strive reported cash. Specifically, the company held about $204.2 million as of September 11. However, this cash is not directly tied to Bitcoin’s price.
Strive also owned 505,000 STRC shares. In fact, those shares had a fair value of about $49.81 million. Meanwhile, STRC is a preferred stock issued by Strategy.
Amplification ratio rises to 53.5%
Additionally, Cole said Strive’s amplification ratio rose to 53.5%. Specifically, this measure tracks Bitcoin exposure for common shareholders. However, it differs from standard accounting figures.
Thus, a rising ratio indicates more Bitcoin exposure per net asset value. Furthermore, the figure can change with Bitcoin purchases. It can also change with capital structure adjustments.
Treasury grew sharply since April
Previously, Strive held 14,557 BTC in April. Consequently, the company reached 25,000 BTC by September 11. Therefore, its treasury expanded rapidly.
Meanwhile, investors will watch Bitcoin price changes. They will also watch Strive’s financing structure. Overall, the company remains a major corporate Bitcoin holder.
