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 and 16 at ~$82,803 per coin (~$335M), raising its holdings from 32,773 to 36,818 BTC in a week — a stack now worth ~$3B at current prices.
- The purchase was funded by warrant exercises on October 12–13 that raised ~$369.2M through 13,674,703 new Class A shares, pushing Class A shares outstanding from 101.2M to 114.8M — a 13.5% dilution of existing shareholders in a single week.
- Strive priced an upsized $630M offering of 15% SATS Series A Perpetual preferred stock at $90/share on October 15, with cumulative $15/year dividends per $100 stated amount; settlement is October 20 and regular dividends begin November 9.
- Since merging with Semler Scientific in an all-stock deal valued at ~$1.3B (combined holdings were ~12,800 BTC at the time), Strive's stack has grown nearly 3X, and its prior purchase was 3,311 BTC at ~$84,500/coin just one week earlier.
- Strategy — the largest corporate Bitcoin holder — also bought 267 BTC for ~$22.1M at ~$82,900 each (total now 848,517 BTC) and expanded its preferred-stock buyback program from $2B to $3B while repurchasing $193.1M of STRC stock; Strive holds 505,000 STRC shares.
- MSCI finalized a rule on October 15 targeting 'non-operating companies,' with affected firms dropped from indexes at the close of November 30 — a proposal Michael Saylor labeled discriminatory in a September letter and one that directly threatens the equity-financed treasury model.
Why it matters: MSCI's finalized rule could remove companies like Strive and Strategy from major benchmarks at the close of November 30, directly threatening the equity-financed Bitcoin treasury model that produced this $335M purchase — just as Strive prepares to settle a separate $630M SATS preferred-stock offering on October 20 to keep buying.
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