U.S. bitcoin treasury firm Strive bought an additional 1,375 bitcoins, lifting its holdings to 24,531 BTC. The company has added 3,175 BTC over the past two weeks.

An 8-K filing Strive submitted to the U.S. Securities and Exchange Commission on Sept. 8 showed it bought 1,375 bitcoins from Aug. 31 to Sept. 4. The average purchase price, including fees and expenses, was $79,281 per bitcoin, for a total of about $109 million. As a result, its bitcoin holdings rose to 24,531 BTC on Sept. 4 from 23,156 BTC on Aug. 28.

In financing, variable-rate perpetual preferred stock SATA played a key role. Matt Cole (맷 콜), Strive's chief executive officer, said about 70 percent of last week's funding was raised through issuing SATA. The number of SATA shares outstanding increased by about 920,000 in a week to 9,995,425. Applying a $100 par value per share, the par balance came to about $999.5 million, nearing $1 billion.

Cash capacity also increased. Cash and cash equivalents rose by $19.1 million to $202.6 million on Sept. 4 from $183.5 million on Aug. 28. By contrast, its holdings of Strategy-issued preferred stock STRC were unchanged at 505,000 shares.

Strive's bitcoin buying continued for a second consecutive week. The company previously bought 1,800 BTC from Aug. 24 to 28 at an average of $79,431. The two purchases total 3,175 BTC, and the latest purchase price was $150 per bitcoin lower than the previous week.

Strive is continuing a strategy of increasing its bitcoin holdings by using capital markets such as preferred shares and common stock. It also cites as an investment risk factor that such financial strategies could leave results heavily affected by bitcoin price fluctuations and the burden of preferred dividends.