According to reports from CoinDesk, CoinPedia, Huoxing Finance, and The Block, Strive (ASST) CEO Matt Cole purchased 1,109 bitcoin at an average price of roughly $76,988 per coin in the four days ended May 22. The latest acquisition brings the company's total bitcoin holdings to 16,500 BTC, up from 15,391 BTC, positioning it as the seventh-largest publicly traded company holding bitcoin. The company disclosed this acquisition through an 8-K filing on May 26, marking a significant expansion of its cryptocurrency treasury strategy. As per BitcoinTreasuries data, this purchase has now surpassed both Coinbase and Riot Platforms to secure the seventh-largest position among public corporate bitcoin holders. The acquisition cost approximately $85.4 million, demonstrating the company's continued commitment to expanding its bitcoin treasury. The transactions took place between May 19 and May 22, with the company following a common approach of spreading acquisitions across multiple trading days to minimize market impact. This latest batch follows earlier May purchases of 382 BTC and 444 BTC, highlighting the company's aggressive accumulation strategy.
According to Strive CEO Matt Cole, the company reported impressive yield metrics on its bitcoin holdings, achieving an 11.0% quarter-to-date BTC yield and a 23.4% year-to-date BTC yield. The company also disclosed an amplification ratio of 45.2%, demonstrating the effectiveness of its bitcoin treasury strategy. Alongside the increase in bitcoin holdings, Strive also reported higher cash and cash equivalents, which rose to $93.3 million from $87.3 million. The company's holdings of Strategy Inc.'s STRC preferred stock also increased slightly in value to over $50 million, strengthening its financial position to support continued bitcoin accumulation. These strong yield metrics highlight the company's ability to generate returns during Bitcoin's recent rally. The company emphasizes that its strategy is designed to maximize Bitcoin held per share, a metric that measures whether existing shareholders are actually benefiting from the accumulation or just getting diluted into irrelevance.
The latest acquisition by Strive has generated positive market response, with shares of Strive (NASDAQ: ASST) up more than 4% on Tuesday morning, hovering at roughly $19, just below a year-to-date high. As reported by The Block, this positive market reaction comes on the heels of Strive unveiling what it called a "daily dividend company" strategy tied to its SATA preferred shares. Starting in mid-June, SATA will become the first U.S.-listed security to pay cash dividends every business day with an annual dividend rate of 13%. Additionally, Strive disclosed it had fully repaid all outstanding debt and held "zero encumbered bitcoin," strengthening its financial position. The company is also "evaluating a near-term refresh" of its at-the-market offerings tied to ASST and SATA, which likely means it could be looking to issue additional equity to raise capital for more bitcoin purchases. This strategic positioning demonstrates the company's commitment to building a sustainable treasury while maintaining operational flexibility for continued growth.
