Strive Raises $86 Million...Surpasses MicroStrategy (MSTR) and Accelerates Bitcoin Purchases

▲ Bitcoin (BTC) / ChatGPT Generated Image

Strive Enterprises (ASST), an asset management company that has adopted a Bitcoin treasury strategy, has secured nearly $86 million in capital through a paid-in capital increase, accelerating its additional purchases of Bitcoin (BTC).

According to the cryptocurrency specialized media outlet Coingape on September 24 (local time), Strive raised $85.88 million through three market-based capital increases conducted from September 21 to 23. According to data compiled by the virtual asset treasury statistics platform Bitcointreasuries, Strive is estimated to have purchased approximately 1,001.67 BTC using the funds raised. As the competition among companies to accumulate Bitcoin continues, Strive is reportedly outpacing the recent purchasing activities of MicroStrategy (MSTR), led by Chairman Michael Saylor, based on its aggressive cash acquisition.

By detailed schedule, on September 21, approximately 284,000 shares were sold, securing a net profit of $27.69 million. At that time, the average purchase price was $86,001, and it was estimated that approximately 321.97 BTC were bought. Subsequently, on September 22, approximately 370,000 shares were disposed of, raising $36.08 million, and an additional 418.27 BTC were acquired at an average price of $86,266. On the last day, September 23, approximately 226,700 shares were sold, raising $22.11 million, and 261.43 BTC were added to the books at an average price of around $84,556.

Strive showed aggressive accumulation throughout September, including purchasing 1,355 BTC for $107.7 million between September 14 and 18, prior to these latest transactions. Unlike the recent trend of slowing additional Bitcoin purchases by overall listed companies, Strive adheres to a strategy of immediately increasing its Bitcoin holdings as soon as funds flow in through capital increases.

With the estimated average purchase price of Bitcoin for companies around $80,500, and the Bitcoin price recovering to the $86,000 level, the entry of corporate holdings into the unrealized profit zone is also cited as a factor boosting confidence in accumulation. The industry anticipates that the competition among institutional companies to absorb Bitcoin will intensify as major corporations successively activate aggressive reserve expansion models linked to stock issuance.

[Key Article Summary]

- Strive raised $85.88 million through stock sale capital increases conducted over three days, purchasing an additional approximately 1,001.67 BTC.

- The company disposed of shares in three tranches from September 21 to 23, accumulating holdings incrementally at prices ranging from $84,000 to $86,000.

- While Bitcoin accumulation by companies is generally slowing down, Strive is aggressively increasing its holdings through aggressive cash procurement.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*