en.bitcoinsistemi.com
While institutional Bitcoin investments continue unabated, Strive has drawn attention with its latest purchase. According to a statement by the company’s CEO, Matt Cole, Strive bought 789 Bitcoins at an average price of approximately $77,890. The total value of this transaction was recorded as $61.43 million.
With this latest purchase, Strive’s total Bitcoin holdings have reached 14,557 BTC. Worth approximately $1.3 billion at current prices, this portfolio has propelled the company to ninth place among institutional Bitcoin holders. This acquisition puts Strive ahead of mining company Hut 8 and just behind Coinbase.
The company’s strategy follows a similar model to the Strategy model led by Michael Saylor. Strive issues a variable-rate perpetual preferred stock called “SATA” to finance Bitcoin purchases. This financing vehicle aims to provide price stability in the $99-100 range while offering investors a variable monthly dividend.
Last year, the company raised approximately $160 million from the initial issuance of SATA and $225 million from subsequent sales. Furthermore, Strive, which increased its dividend yield to 12.75%, plans to develop a SATA and STRC-focused ETF product in collaboration with Tuttle Capital Management.
Analysts note that Strive’s aggressive buying strategy indicates continued institutional demand for Bitcoin.
*This is not investment advice.