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Crypto

Strive buys another 1,375 bitcoins, holdings rise to 24,531 BTC

U.S. bitcoin treasury firm Strive bought an additional 1,375 bitcoins, raising its holdings to 24,531 BTC. The company purchased the coins between Aug. 31 and Sept. 4 at an average price of $79,281 per bitcoin including fees and expenses, for about $109 million in total. CEO Matt Cole said about 70 percent of last week’s financing came from issuing variable-rate perpetual preferred stock SATA.

Crypto

Strategy\'s STRC push to reclaim $100 par value faces test

Strategy has deployed $635.2 million to return its preferred-type security STRC to its $100 par value, but it is still hovering around $97. With a remaining $364.8 million from a $1 billion buyback pool, investors are watching how much more capital the company will commit. Strategy has funded support with sales of bitcoin and MSTR shares while also resuming bitcoin purchases, as rival bitcoin-linked income securities expand and competition for investor demand increases.

Crypto

Strive buys bitcoin for 9 straight trading days, funding structure put to test

Asset manager Strive has bought bitcoin for nine straight trading days using funds raised by issuing SATA preferred shares. It most recently bought 104 BTC on Sept. 1, Cryptopolitan reported. The buying comes as corporate bitcoin purchases have generally slowed. Strive said SATA pays dividends every business day with an annual dividend rate of 13.00 percent. Analysts warned the cycle depends on market confidence, while the company reported a second-quarter GAAP net loss of $257.6 million.