Bitcoin
Strive Acquires 1,110 Bitcoin Through Share Issuance; Dilution Offsets Accumulation Gains
The asset manager expanded Bitcoin holdings 5.5% through new equity, but per-share metrics rose just 1.4% due to share dilution.
Strive, the asset manager co-founded by Vivek Ramaswamy in 2022, purchased 1,110 Bitcoin worth around $87.5 million between August 17 and August 21, paying an average of $73,409 per coin including fees. The acquisition raised its total holdings from 20,246 BTC to 21,356 BTC, representing a 5.5% increase in absolute Bitcoin holdings valued at approximately $1.7 billion.
The company funded the purchases through at-the-market offerings, issuing 3,646,300 new Class A shares—a 4.8% increase—and 441,313 shares of SATA perpetual preferred stock, up 5.6%. Despite the expansion of Bitcoin holdings, Bitcoin per fully diluted share rose only about 1.4%, demonstrating the dilutive effect of the capital raise. SATA traded near or above its $100 face value during the period, enabling the company to issue preferred shares without pricing below par.
Strive's cash position strengthened to $171.9 million by August 21, up from $154.8 million a week earlier, despite the Bitcoin purchases. The activity aligns with moves by other major corporate Bitcoin accumulators; Metaplanet added 2,823 BTC in the second quarter to reach 43,000 BTC, while Strategy holds 840,447 BTC.
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