Strive, the corporate entity led by Matt Cole, has announced the acquisition of 124 Bitcoin, adding to its growing digital asset treasury. According to a recent SEC filing, the purchase was executed for approximately $10 million, resulting in an average acquisition cost of $80,526 per coin. This latest transaction brings Strive’s total Bitcoin holdings to 43,124 BTC, continuing a consistent pattern of accumulation for the company.

The announcement follows a significant acquisition made just one week prior, where Strive completed its largest single purchase to date. At that time, the company added 6,182 Bitcoin to its balance sheet for over $511 million. The current purchase is notably smaller in scale, reflecting a more modest entry point in the current market conditions.

BTC / USD
Source: CoinGecko. Prices are indicative.

Funding sources and ATM utilization

Strive’s financial disclosures indicate that existing cash reserves funded the majority of the recent Bitcoin purchase. The company’s cash and cash equivalent reserves declined from $504.4 million to $490.4 million, a decrease that aligns with the reported expenditure on digital assets. This reduction in liquid reserves confirms the direct impact of the acquisition on the company’s immediate liquidity.

Notably, Strive utilized its SATS ATM feature for the first time during this period. According to details shared by Matt Cole, the ATM proceeds represented 100% of the weekly funds available through that mechanism. This marks a new operational strategy for Strive, integrating its preferred stock mechanisms directly into its Bitcoin accumulation process.

Portfolio composition and equity changes

In addition to its Bitcoin holdings, Strive maintains a significant position in Strategy’s Perpetual Stretch Preferred Stock, known as STRC. The company continues to hold 505,000 shares of this instrument. Meanwhile, Strive’s own preferred stock holdings increased by 3,418 shares, bringing the total to 7,003,418 shares.

The company’s holdings in SATA stocks remained unchanged, standing at just over 14 million shares. These equity positions complement the Bitcoin treasury, forming a diversified portfolio of digital assets and corporate equities. The amplification ratio for the company is reported to be 62.7%, a metric that reflects the leverage or efficiency of its capital deployment strategy.

Market context and future outlook

The recent acquisition places Strive in a competitive position among corporate Bitcoin treasuries. Reports from Crypto Briefing suggest that Strive is closing in on Metaplanet in the race to hold significant amounts of Bitcoin. This trend highlights the increasing participation of public companies in the digital asset space, often using preferred stock structures to fund their purchases.