Strive’s Bitcoin Buying Slows to 124 BTC, About 2% of the Prior Week’s Total

Strive added 124 bitcoin between Oct. 24 and Oct. 30, paying an average of about $80,526 a coin, including fees and expenses, the Nasdaq-listed company disclosed in an 8-K on Nov. 2. Its treasury now stands at 43,124 BTC.

That is about 2% of the 6,182 BTC Strive reported buying from Oct. 17 to Oct. 23, by Unchained’s calculation from the two filings. At this week’s average price, the 124 coins cost roughly $10 million, in line with the figure CEO Matt Cole gave in a post on X.

Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter.

In the same post, Cole wrote that “existing cash funded most purchases” during the week. The 8-K shows cash and cash equivalents of $490.4 million as of Oct. 30, down $14.0 million from $504.4 million a week earlier. The filing does not itemize the change.

Cole also said in his post that Strive sold shares through its SATS at-the-market program for the first time, with SATS accounting for “100% of weekly ATM proceeds” in the period. He did not give a dollar figure, and the 8-K does not report ATM proceeds. It does show SATS shares outstanding rising by 3,418, to 7,003,418 from 7,000,000. The program, which Strive filed for on Oct. 26, covers as much as $1 billion of its 15% Series A Perpetual SATS Preferred Stock, to be sold gradually at market prices.

Strive still holds 505,000 shares of Strategy’s STRC preferred stock, now valued at $50.1 million, compared with $50.2 million on Oct. 23. Its variable-rate SATA preferred shares outstanding were unchanged at 14,030,176, and assumed fully diluted common shares held at 130,044,690. Class A common stock rose by 3,976 shares to 118,117,620, while Class B shares fell by 1,213.

Related Listen: Why Matt Cole Believes Last Week’s STRC Crash Was a Leverage Liquidation

{"@context":"http:\/\/schema.org\/","@id":"https:\/\/unchainedcrypto.com\/strives-bitcoin-buying-slows-to-124-btc-about-2-of-the-prior-weeks-total\/#arve-youtube-onrowtxcoyg","@type":"VideoObject","embedURL":"https:\/\/www.youtube-nocookie.com\/embed\/oNROWTxcOYg?feature=oembed&iv_load_policy=3&modestbranding=1&rel=0&autohide=1&playsinline=1&autoplay=0"}

The post Strive’s Bitcoin Buying Slows to 124 BTC, About 2% of the Prior Week’s Total appeared first on Unchained.