Strive Adds 1,107 BTC for $94.5M, Total Holdings Top 27,400
ASST has more than doubled off its 52-week low of $7.02.
Summary
Strive bought 1,107 bitcoin for $94.5 million last week at an average price of $85,396, lifting total holdings to 27,462 BTC. The purchase was funded largely by SATA preferred stock sales, which made up 85% of capital raised, while warrant exercises contributed $12.4 million. This continues a pattern of weekly bitcoin accumulation, though the pace slowed slightly from the prior week's 1,355 BTC. The company remains the fifth-largest public bitcoin holder and would need to average about 1,235 BTC per week for the rest of the year to overtake Twenty One's current holdings. The stock is down 0.3% on the day but up nearly 70% year-to-date.
At the time of this announcement, ASST was trading at $29.48 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $2.9B. The 52-week trading range was $7.02 to $54.80. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: The Block.