Strive buys 21 bitcoin for $1.3M as stock gains 4.3%

Strive Inc. bought 21 bitcoin for about $1.3 million at an average price of $63,221 per coin, lifting its corporate treasury to 19,921 BTC.

"Strive is buying bitcoin hand over fist," Chief Executive Matthew Cole said in the filing, which disclosed the purchase between July 13 and July 17.

The Dallas-based company funded the acquisition through its at-the-market equity program, with Class A shares outstanding rising to 73,869,961 from 73,426,164. Cash and cash equivalents stood at $157.4 million as of July 17, up from $154.1 million a week earlier. The buy pushed Strive's total holdings to a market value approaching $1.3 billion, cementing its rank as the seventh-largest publicly disclosed corporate bitcoin holder.

Strive builds its treasury through perpetual preferred equity rather than convertible debt, a structure Cole has said guards against forced selling. The company has set its sights on a $4.2 billion war chest to fund further accumulation, even as it reported a $393 million loss across its first six months as a public company tied to accounting treatment of its bitcoin position and share issuance.

Shares of Strive (Nasdaq: ASST) advanced 4.3% to $12.37 following the announcement, signaling investor support for the company's bitcoin accumulation strategy. The purchase price of about $63,221 per coin sits below levels Strive paid across much of its earlier accumulation, which began through a merger of Strive Asset Management and Asset Entities before expanding via the all-stock acquisition of Semler Scientific.

The company holds 505,000 shares of Strategy's Variable Rate Series A Perpetual Stretch Preferred Stock, known as STRC, valued at $43.1 million as of July 17. Strategy, the largest corporate bitcoin holder, disclosed no purchases or sales over the past week, leaving its holdings unchanged at 843,775 BTC.

The filing carried standard cautions on risks tied to the Semler integration, digital-asset volatility, interest rates and dilution from further share sales.

This article is for informational purposes only and does not constitute investment advice.