Strive reaches 25,000 BTC after $36.6 million purchase

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Strive has increased its Bitcoin holdings to 25,000 BTC after buying another 469 BTC for $36.6 million.

The company paid just under $78,000 per Bitcoin, according to a 14 September SEC filing. Its holdings are now worth about $1.95 billion at current prices.

CEO Matt Cole said the latest purchase was funded entirely through sales of SATA, the company’s perpetual preferred stock. SATA’s notional value outstanding has also surpassed $1 billion.

Strive’s amplification ratio rose to 53.5%, meaning its preferred stock obligations and debt equal about $53.50 for every $100 of Bitcoin held.