In an 8-K filing, Strive disclosed that it purchased 2,500 Bitcoins for approximately $185.2 million, at an average price of $74,092 per Bitcoin. Following the transaction, its total Bitcoin holdings rose to 19,000, further solidifying its position among the top publicly traded companies holding significant amounts of Bitcoin.
Purchase price lower than the last disclosure
This marks another recent increase in Strive's holdings. The company last disclosed this on May 22nd, when it purchased 1,109 bitcoins at an average price of $76,989. In comparison, this transaction price was lower, indicating that the company continued to add to its position during the bitcoin price pullback.
The CoinDesk article noted that Bitcoin's price had previously exceeded $74,000 before falling back to around $70,800 by Tuesday morning. Strive's purchase occurred precisely after this decline.
The company simultaneously disclosed its revenue indicators.
The company disclosed that, as of now, its quarterly BTC return is 23.0%, its year-to-date BTC return is 36.7%, and its leverage ratio is 57.0%. Strive also stated that it has increased its cash reserves to maintain an 18-month dividend reserve.
The article did not elaborate on how these metrics were calculated, but based on the disclosed information, Strive is still simultaneously expanding its Bitcoin treasury and managing its cash reserves.
- Purchase size: 2,500 BTC
- Purchase amount: Approximately US$185.2 million
- Average purchase price: approximately US$74,092
Holdings rise to the top of listed companies
With total holdings rising to 19,000 Bitcoins, Strive continues to climb the ranks of publicly traded companies holding Bitcoin. The report notes that this size has propelled it further into the top ten of publicly traded companies holding Bitcoin.
The day before this disclosure, Strategy had just publicly announced a Bitcoin sale. According to the disclosure, Strategy sold 32 Bitcoins, realizing approximately $2.5 million, at an average price of $77,135. This was the company's first publicly disclosed Bitcoin sale, and the market subsequently declined.
In addition, Benchmark analyst Mark Palmer began covering Strive on Tuesday, giving it a buy rating and a price target of $32. Even so, Strive Class A common stock fell 3.59% in pre-market trading to $16.58.
Additional information:The article mentions that Strategy remains the largest publicly traded Bitcoin holder, while Strive's latest acquisition further enhances its presence in the corporate Bitcoin treasury sector.
