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Crypto

Strive buys additional 382 bitcoin, keeps preferred share strategy

Nasdaq-listed asset manager Strive bought an additional 382 bitcoin for $30.3 million, lifting its total holdings to 15,391 bitcoin, CoinPost reported. The average purchase price was $79,348 per bitcoin. CEO Matt Cole said the holdings were worth 188.3 billion yen, or about 1.785 trillion won, at current market prices. Strive said it funds its strategy through perpetual preferred shares called SATA and reported bitcoin yield metrics of 18.4 percent year-to-date and 6.6 percent quarter-to-date.

AI & Enterprise

Upstage says Ha Jung-woo share return followed contractual procedure, parking trade not established

AI startup Upstage issued an official statement on May 20 over controversy surrounding the disposal of shares by Ha Jung-woo, the Democratic Party candidate in a Busan by-election. Upstage said it wanted to correct facts to avoid unfounded speculation. It said Ha served as a non-standing adviser in AI education in 2021 and received 10,000 shares at par value with a six-year holding requirement. Upstage said 5,556 shares were placed in a blind trust and 4,444 shares were automatically returned to CEO Kim Sung-hoon at 100 won each.

Crypto

Strategy buys $2.01 billion of bitcoin, taking holdings above 843,738 BTC

Strategy bought 24,869 bitcoin last week for $2.01 billion, lifting its total holdings to 843,738 BTC, Cointelegraph reported on May 18. An SEC filing showed the purchases were made from May 11 to 17 at an average $80,985 per bitcoin, raising the average cost basis to $75,700. Most funding came from sales of STRC perpetual preferred shares, while MSTR common stock sales raised a smaller amount.