Strive Buys $335 Million in Bitcoin After Investors Pour In $369 Million — SkimNews
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- Strive bought 4,045 BTC between October 12-16 at roughly $82,803 per coin, lifting its total holdings to 36,818 BTC — worth about $3 billion at current prices, up from 32,773 a week earlier.
- Warrant exercises on October 12-13 raised about $369.2 million through 13,674,703 new Class A shares, expanding Strive's Class A shares outstanding 13.5% from 101.2 million to 114.8 million and leaving no traditional warrants remaining.
- Strive priced an upsized $630 million offering of 15% Series A Perpetual preferred stock (SATS) at $90 per share on October 15, settling October 20, with the company planning to park $22.50 per share in a reserve for the first 18 months of dividends.
- Strive's holdings have nearly tripled since shareholders approved its all-stock acquisition of Semler Scientific, valued at about $1.3 billion, with the combined entity holding roughly 12,800 BTC at January approval.
- Strategy, the largest corporate bitcoin holder, added 267 BTC last week for about $22.1 million at roughly $82,900 each, bringing its total to 848,517 BTC, and bumped its STRC preferred-stock buyback program from $2 billion to $3 billion.
- MSCI finalized a rule on October 15 that would drop 'non-operating companies' from its indexes at the close of November 30, with the final list of affected companies to be published November 11.
Why it matters: Strive is running a textbook dilution-funded Bitcoin accumulation: Class A shareholders absorbed a 13.5% share count expansion to fund $335 million in BTC, and the company is now pricing a $630 million preferred tranche yielding about 16.7% to fund further buys. The looming MSCI delisting trigger at the November 30 close adds existential risk to these treasury vehicles if index-tracking funds are forced sellers.
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