Bitcoin Treasury Firm Strive Adds 72 BTC to Treasury After Warrant Exercises

Strive, (ASST) has added 72 bitcoin $BTC$114,183.19 to its holdings using proceeds from the exercise of traditional warrants issued in connection with its previously disclosed private investment in public equity (“PIPE”) financing transaction, according to an 8-K filing.

The company yesterday purchased approximately 72.3 $BTC for about $8.26 million, an average price of $114,303 per coin.

This latest purchase brings Strive’s total bitcoin holdings to roughly 5,958 $BTC, acquired at a total cost of $691.3 million, with an average purchase price of $116,032 per bitcoin.

Based on Strive’s previous filings, yesterday's bitcoin purchase was funded through the exercise of approximately 6.11 million traditional warrants at $1.35 per share, generating about $8.26 million in gross proceeds.

These warrants are part of the 555.3 million issued under Strive’s $750 million PIPE financing.

Shares are lower by 13.5% premarket after doubling in the previous two sessions.

Read more: Bitcoin Treasury Company Strive Surges Additional 30%, Nearly Doubling in Two Sessions