[DigitalToday reporter Yoonseo Lee] Asset manager Strive spent $50 million to buy an additional 759 bitcoin, raising its total holdings to 19,864 BTC.

On June 22 (local time), blockchain media outlet Cryptopolitan reported that Strive bought bitcoin from June 15 to 21 at an average of $65,850 each. This was confirmed through a Form 8-K filing disclosed on June 22.

The purchase pushed Strive's bitcoin holdings above 19,000 BTC. The company has bought more than 3,700 BTC since January, including bitcoin secured through its acquisition of Semler Scientific earlier this year and purchases in the open market.

The purchase price was lower than in its previous large-scale buying. When Strive bought more than 2,500 BTC in May, it paid an average of $74,092 per bitcoin and spent a total of $185.2 million. The latest price was about 11 percent lower. This showed that even within the same quarter, the average acquisition price for corporate buyers can vary widely depending on bitcoin volatility.

Strive is funding bitcoin purchases through a perpetual preferred stock called SATA. SATA is structured to pay daily dividends at an annual rate of about 13 percent. The company said it is using preferred shares instead of convertible bonds or on-exchange sales of common stock to avoid diluting existing ASST shareholders.

That funding structure is translating into buying power. According to figures compiled by Bitcointreasuries.net, SATA raised funds estimated to be enough to buy 603 BTC from June 15 to 19, its first week of daily dividend payments. On June 16 alone, net proceeds were estimated at about $19.45 million, enough to buy about 296 BTC on that basis.

Preferred share price volatility also emerged. SATA fell as low as $93 intraday on June 18, below its $100 par value, before recovering to $97.70 at the close. Strive Chief Executive Matt Cole (맷 콜) called it "the most difficult day in digital asset history." He pointed to leveraged liquidations as the backdrop to the selling.

Competition among listed companies to accumulate bitcoin is continuing. As of June 22, Strive held 19,864 BTC worth about $1.3 billion, ranking seventh among public companies. Strategy was No. 1 with 847,363 BTC, followed by Twenty One Capital, Metaplanet and MARA Holdings.

Strategy, the biggest corporate holder of bitcoin, is also continuing to buy. It bought an additional 520 BTC for $35 million and increased its dollar reserves to $1.4 billion. Michael Saylor (마이클 세일러), chairman of Strategy, said the company plans to keep replenishing those reserves to support the issuance of its preferred shares.

How listed companies accumulate bitcoin is also a point of interest. Strive is raising funds through daily dividend-paying preferred shares, while Strategy is sticking with its existing approach centered on convertible bonds. Attention is on how differences in funding structures will affect the pace and cost of future bitcoin purchases.

Strive acquired an additional 759 $BTC for ~$50M at an average cost of ~$65,850 per bitcoin. pic.twitter.com/Vpnxsp9Kd8