Strive Buys 2,000 Bitcoin for $169M in Largest Purchase in Four Months

Strive purchased 2,000 Bitcoin for approximately $169 million between Sept. 28 and Oct. 2, its largest acquisition in four months, at an average price of about $84,422 per coin, according to an SEC filing. The Nasdaq-listed Bitcoin treasury company now holds 29,462 Bitcoin as of Oct. 2, valued at roughly $2.5 billion at an average cost of approximately $86,000 per coin. The buy follows prior acquisitions of 2,500 Bitcoin between May 23 and June, which lifted holdings to 19,000 at the time. Strive has funded recent purchases largely through SATA, a preferred stock paying about 13% annually on a $100 stated amount. SATA supplied 70% of capital in the week ending Sept. 4 and 85% in the week ending Sept. 25. The company reported $284.7 million in cash and no debt. Its average cost of $90,170 per Bitcoin at September's end exceeds Bitcoin's roughly $86,000 level on Monday, leaving the position underwater on paper. Strive ranks fifth among public Bitcoin holders.