What to know:
- Strive added 1,110 BTC for $81.5 million, lifting its Bitcoin treasury to 21,356 BTC.
- Cash rose 11% to $171.9 million while Class A and SATA share counts increased further.
- ASST offers indirect Bitcoin exposure, while SATA holders retain senior payment claims.
Strive expanded its Bitcoin treasury with an $81.5 million purchase of 1,110 BTC, lifting its holdings to 21,356 coins. ASST shares gained more than 8% on Monday, while the company’s cash balance also increased during the week.
The company bought the coins from Aug. 17 through Aug. 21. It paid an average of $73,409 per BTC, including fees and expenses, according to an Aug. 24 SEC filing.
Before the transaction, Strive held 20,246 BTC. With Bitcoin near $78,900 at the time of writing, the full position carried a market value of about $1.69 billion.
What Changed in Strive’s Bitcoin Treasury?
Cash and cash equivalents increased by $17.1 million to $171.9 million. Earlier this week, the figure was stated at $154.8 million. Thus, the cash increased by about 11% in the period.
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The number of outstanding Class A shares went up by 3,646,300 to 79,890,888. Preferred shares of SATA increased by 441,313 to 8,270,815. Class B shares stayed at 9,792,535.
Effective common shares stood at 89.68 million compared to 86.04 million. Assumed fully diluted shares amounted to 92.95 million. Traditional warrants were stable at 26.60 million underlying shares.
The filing includes shares sold by 4 p.m. ET that were scheduled for issuance on the next business day. However, it does not link proceeds from those sales to the Bitcoin purchase.
The firm held 505,000 shares of Strategy’s STRC preferred stock. The fair value of those increased by $707,000 to $48.57 million during the week.
Chairman and CEO Matt Cole announced Bitcoin treasury compnat Strive’s 1,110 BTC purchase on X. During the buying period, he described Bitcoin as historically cheap and said Strive felt comfortable taking more risk to acquire BTC.
How Do ASST and SATA Track Strive’s Bitcoin Treasury?
ASST traded around $19.80 on Monday, increasing by about 8.7%. The highest price that ASST reached during trading hours was $20.31 following the opening at $18.76.
SATA trades at approximately $100.01, almost equaling its par value of $100. The stock price cannot prove that Bitcoin treasury company Strive plans to buy another huge quantity of Bitcoin. A board director of ASST Pierre Rochard acquired 15,900 shares of ASST on August 14. Pierre
Rochard paid $12.54 per share, resulting in the transaction being valued at $199,386. The filing did not disclose the purpose of the acquisition.
One week prior to the purchase, Strive acquired 79 Bitcoin for about $5 million. The firm paid $63,231 per bitcoin, which amounts to approximately $63,231 for one bitcoin.
Bitcoin is around $79,000 on Monday following the approach of $80,000 levels. Strive had made known of its purchase of 1,110 BTC during the period between August 17 and August 21.
This move led to an increase in the BTC holdings by Strive, as well as an increase in the indirect holding of ASST investors in BTC. However, ASST is shares in the company but not in the BTC.
SATA preferred stockholders have a higher priority than common stockholders in the order of payment of liquidation and dividends.
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