The company increased its holdings to 16,500 BTC as Bitcoin-linked preferred securities such as SATA and Strategy’s STRC gain traction in emerging “digital credit” markets.
Strive purchased 1,109 Bitcoin between May 19 and May 22, increasing its holdings to 16,500 BTC, according to a Tuesday SEC filing.
The company said it held about $93.3 million in cash and cash equivalents as of May 22, alongside roughly $50.1 million in fair value tied to its holdings of Strategy’s Stretch preferred stock product, STRC. The Dallas, Texas-based company also said it is evaluating refreshed at-the-market stock sale programs that could fund additional Bitcoin (BTC) purchases.
Strive boosted its Class A common shares outstanding by more than 2.2 million shares during the period, while its SATA preferred stock count rose by about 515,000 shares, reflecting continued use of equity-linked financing tied to its Bitcoin treasury strategy.
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