Strive Reports 11% Increase in Bitcoin Holdings Following $208M Warrant Exercising

Bitcoin Holdings and Market Performance

In its filing to the SEC for the week ending October 9, Strive revealed that it purchased 3,311 BTC at an average price of about $84,500 per coin. This acquisition increased its total holdings to 32,773 BTC, positioning Strive as the fifth-largest publicly traded corporate Bitcoin holder according to industry data.

At the time of reporting, Bitcoin traded around $83,300, and Strive’s shares (ticker: ASST) were relatively stable at $27.52.

Warrant Exercising and Charter Amendment

Strive’s Chairman and CEO, Matt Cole, disclosed on X that investors exercised $208 million worth of warrants, with roughly $15.3 million remaining before those warrants expired on Tuesday.

The company amended its governing documents to establish a firm minimum issuance price of $100 for its SATA preferred shares, effectively limiting the ability to issue these shares below that price. SATA shares were trading near $99.40 at the latest check.

Increase in Bitcoin Holdings per Share

During the reporting period, Strive’s Bitcoin reserves grew by 11.2%, outpacing a 9.4% increase in its effective common share count. This dynamic resulted in a higher Bitcoin per share ratio, giving existing shareholders increased exposure to Bitcoin despite the company issuing additional equity.

Michael Saylor’s Perspective on Strive’s Strategy

Michael Saylor, founder of Strategy and an early corporate Bitcoin treasury advocate, praised Strive’s recent Bitcoin purchases, highlighting the company’s success in converting demand for its digital equity (ASST) and credit instruments (SATA) into increased Bitcoin demand.

Saylor noted that Strive’s capital raising strategy mirrors Strategy’s own approach, which utilizes common stock (MSTR) and preferred shares (STRC) to fund Bitcoin acquisitions.

In contrast, Strategy itself added a modest 250 BTC last week, bringing its total treasury holdings to 848,250 BTC while maintaining its status as the largest publicly traded corporate Bitcoin holder.