Strive bought a total of 4,045 Bitcoin last week, reaching roughly 15 times Strategy’s purchases over the same period, as it aims to become the second-largest Bitcoin holder among publicly traded companies by year-end.
According to The Block, which cited a filing with the U.S. Securities and Exchange Commission (SEC), the company bought another 1,223 BTC between October 14 and 16. The purchases, at an average price of $81,734 per Bitcoin, brought its total reserves to 36,818 BTC.
The latest purchase added to the 2,822 BTC bought on Monday and Tuesday of the week for $235 million. That brought the weekly total to 4,045 BTC. Strategy announced that it bought 267 BTC during the same week; Strive’s weekly purchase was roughly 15 times that amount.
What would it take to reach second place?
According to Bitcoin Treasuries data, Strive is the fourth-largest company among publicly traded companies by Bitcoin holdings. Strategy is in first place with 848,517 BTC, followed by Metaplanet with 44,000 BTC and Twenty One with 43,514 BTC. MARA, just behind Strive, holds 35,577 BTC.
CEO Matt Cole’s goal is to finish the year in second place. Strive is 7,182 BTC short of Metaplanet’s reported holdings. Based on the figures in the article, surpassing Metaplanet’s current total would require buying an average of roughly 700 BTC per week through year-end; competitors’ subsequent purchases could change that calculation.
New financing expected on October 20
Strive’s cash and cash equivalents reached $317.5 million as of October 16, up from $310.3 million a week earlier. During the same period, the number of Class A shares outstanding increased by approximately 13.7 million to 114.8 million.
The company also set the offering price on October 15 for 7 million new preferred shares. Subject to customary closing conditions, the offering is expected to close on October 20 and is expected to raise approximately $630 million before expenses.
Not investment advice.