Strive Expands Bitcoin Treasury With $8.3M Purchase Funded by Warrant Exercises
Strive (ASST) added 72 bitcoin (BTC) to its corporate treasury this week, using proceeds from the exercise of traditional warrants linked to its $750 million private investment in public equity (PIPE) financing, according to a Tuesday SEC filing.
The company said it acquired approximately 72.3 BTC for $8.26 million at an average price of $114,303 per coin. The purchase lifts Strive’s total bitcoin holdings to about 5,958 BTC, acquired for $691.3 million in aggregate at an average purchase price of $116,032.
The transaction was financed through the exercise of roughly 6.11 million warrants at $1.35 per share, generating about $8.26 million in gross proceeds. These warrants are part of the 555.3 million issued under the PIPE deal.
Strive shares slipped 13.5% in early trading Tuesday after doubling over the prior two sessions.
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