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U.S. investment firm Strive acquired 6,182 bitcoins for approximately $511.4 million. The company’s total bitcoin holdings on its balance sheet have now reached 43,000 BTC.
According to Strive’s report filed with the U.S. Securities and Exchange Commission (SEC), the new purchases were executed through a series of transactions between October 17 and 23. The average acquisition cost was approximately $82,732 per bitcoin, including fees and other expenses.
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The report stated that as of October 23, the company’s cash and cash equivalents totaled $504.4 million, up from $317.5 million the previous week. Several days prior to the purchase, Strive completed the placement of 7 million SATS preferred shares at $90 each. The offering raised approximately $630 million before expenses. The proceeds are intended to fund additional cryptocurrency purchases and support ongoing operations.
Strive CEO Matt Cole aims to position the company as the second-largest public corporate bitcoin holder by the end of the year. He stated that expanding cryptocurrency reserves remains a key priority for Strive.
Previously, Strive added 4,045 bitcoins to its reserves, spending $335 million. Following that transaction, its balance sheet held 36,818 BTC.
