Bitcoin treasury expands as Strive buys 469 BTC

Strive added 469 Bitcoin last week, taking its corporate treasury to 25,000 BTC and reinforcing its position among the largest public holders of the cryptocurrency. The purchase was disclosed in a filing with the US Securities and Exchange Commission on Monday.

Funded by preferred stock

The company spent about $36.6 million on the latest acquisition, buying the coins between Sept. 8 and Sept. 11 at an average price of $77,954 per Bitcoin, including fees and expenses. Strive Chief Executive Matt Cole said the deal was financed entirely through proceeds from sales of SATA, the firm’s perpetual preferred stock.

SATA has now crossed $1 billion in notional value outstanding, and the filing shows the share count rose by 402,541 over the same period to roughly 10.4 million shares. The structure gives Strive a way to raise capital while continuing to build its Bitcoin position without selling existing holdings.

Balance sheet still carries cash

As of Sept. 11, Strive also reported $204.2 million in cash and cash equivalents, alongside 505,000 shares of another holding that was partly disclosed in the filing. That leaves the company with a more complex balance sheet than a simple one-asset treasury, even as Bitcoin remains the main focus of its capital strategy.

The latest buy also highlights how quickly some listed companies are expanding their crypto reserves through repeated financing rounds. Strive is described as a top-five Bitcoin treasury company and asset manager, and its pace of accumulation has made it one of the more closely watched corporate buyers in the market.

Bitcoin was trading at $78,823 at the time referenced in the filing, close to the company’s purchase price. The move adds fresh demand from a corporate buyer at a time when treasury accumulation remains an important part of market flow.

For investors tracking corporate crypto exposure, the key point is that Strive is not only holding Bitcoin but using a preferred-stock vehicle to keep adding to it. That approach ties the size of its treasury directly to its ability to place SATA shares in the market.

This article is not investment advice and recommends no asset, level or direction; a single session's move is not evidence of a trend. For background see Crypto, Altcoin, Bitcoin, and for terms the finance glossary.