American investment company Strive purchased 2,000 bitcoins for $169 million last week at an average price of $84,422 per coin. The transaction marks the firm's largest cryptocurrency acquisition since late May and early June.
Following the purchase, Strive holds 29,462 bitcoins with a total value of about $2.5 billion, according to a report filed by the company with the US Securities and Exchange Commission on October 2. Strive paid an average price of around $86,000 per coin for its combined holdings.
Strive Asset Management is an American financial services firm that offers investment portfolios and exchange-traded funds. Ramaswamy, an entrepreneur who launched the Ohio-based company in 2022, served as a candidate in the 2024 Republican presidential primary. The US Securities and Exchange Commission regulates financial markets and enforces reporting standards for public corporations in the United States. Bitcoin, launched in 2009, is a peer-to-peer digital currency that operates on a decentralized blockchain network.
SATA preferred stock financing
Strive relies on SATA preferred shares as its main source of capital for purchasing bitcoin. Preferred stock accounted for 70 percent of the company's bitcoin financing during the first week of September, increasing to 85 percent in the third week of the month.
Each SATA share carries a nominal value of $100 and yields annual dividends of about 13 percent. Because bitcoin does not generate interest income or yield, Strive pays these dividends using its existing cash reserves or by raising new capital.
Preferred shares are corporate equity securities that offer fixed dividend returns to investors ahead of common stock holders. Unlike traditional dividend-paying equities or interest-bearing bonds, digital assets like bitcoin produce no ongoing cash flow, requiring corporate treasury managers to structure dedicated funding mechanisms for dividend obligations.
Semler Scientific acquisition and growth
Strive expanded its corporate cryptocurrency treasury in September last year by signing an agreement to acquire Semler Scientific, a company operating in the medical technology sector. At the time of the agreement, Semler Scientific held approximately 5,000 bitcoins.
Shareholders approved the acquisition deal in January, bringing Strive's combined bitcoin reserves to 12,800 coins. The company's holdings grew to 14,557 bitcoins by the end of April and reached 20,246 coins by mid-August.
Semler Scientific is an American healthcare equipment maker best known for creating diagnostic tools for vascular disease. The company attracted market attention after adopting a corporate treasury strategy focused on accumulating cryptocurrency assets alongside its healthcare technology operations.
Corporate rankings and bitcoin forecast
Strive currently ranks as the fifth largest public company holding bitcoin, according to tracking data from Bitcoin Treasuries. It ranks behind Strategy, Twenty One Capital, Metaplanet, and cryptocurrency mining firm MARA. Strategy remains the world's largest corporate bitcoin owner, with exactly 848,000 coins in its reserve.
Strategy, an American enterprise software and business intelligence firm, became the first major listed company to convert its cash reserves into bitcoin in 2020. Bitcoin Treasuries is an online analytics service that tracks cryptocurrency balance sheets across publicly listed companies and investment funds worldwide.
Looking ahead, Strive chief executive Matt Cole predicted that bitcoin's next bull trend could be the strongest in the history of the cryptocurrency. Cole explained that a weakening US dollar could prompt investors to search more actively for assets with a limited supply.
