Strive adds 3,311 Bitcoin after $208M in warrant exercises

Warrant exercises fuel a 3,311 BTC purchase

Strive, a publicly traded company that holds Bitcoin in its corporate treasury, purchased 3,311 BTC during the week ending October 9, according to a filing with the US Securities and Exchange Commission released on Tuesday, October 13. The purchases were largely funded by investors exercising warrants, which are financial instruments that give the holder the right to buy company shares at a set price.

Strive Chairman and CEO Matt Cole said on X that approximately $208 million in warrants were exercised, with about 15.3 million remaining ahead of their expiration on the same day.

The purchases brought Strive's total Bitcoin holdings to 32,773 BTC, making it the fifth-largest publicly traded corporate Bitcoin holder based on industry data.

Key numbers from the SEC filing

• Average purchase price: approximately $84,500 per Bitcoin
• Bitcoin purchased: 3,311 BTC
• Total holdings after purchase: 32,773 BTC
• Warrant exercises reported by Matt Cole: $208 million
• Bitcoin price at last look on Oct 13: roughly $83,300
• Strive share price (ASST): $27.52, little changed

Bitcoin per share rose even as new shares were issued

Strive's Bitcoin reserves grew 11.2% during the reporting period, while its effective common share count increased 9.4%. Because the Bitcoin growth outpaced the share count growth, each existing share represents a slightly larger Bitcoin stake than before.

Saylor praises the treasury strategy

Michael Saylor, founder of Strategy (formerly MicroStrategy), commented on Strive's purchases on X. He said the company is "turning demand for digital equity and digital credit into demand for Bitcoin" and that its growth "shows how the capital markets are accelerating Bitcoin adoption."

Strategy uses a similar approach, funding Bitcoin purchases through its common stock and preferred shares. It added 250 BTC in the same week, bringing its total to 848,250 BTC and maintaining its position as the largest publicly traded corporate Bitcoin holder.

Strive sets a $100 floor on preferred share issuance

The company also amended its governing documents to establish a binding $100 minimum issuance price for its SATA preferred shares, a type of stock that pays dividends before common stock. This change limits the company's ability to issue those shares below that threshold. At the time of the filing, SATA shares were trading at $99.40.

Sources

• Cointelegraph — "Strive reports $208M in warrant exercises as Bitcoin holdings jump 11%"

Read also: Strive Buys 3,311 Bitcoin for $280 Million, Narrowing Gap With MARA