American investment firm Strive has purchased 6,182 bitcoin for roughly $511.4 million, boosting its total holdings of the cryptocurrency to 43,000 coins.
The transactions were disclosed in a regulatory filing submitted to the United States Securities and Exchange Commission.
According to the filing, Strive accumulated the tokens through a series of purchases carried out between October 17 and October 23. The company paid an average price of approximately $82,732 per bitcoin, a figure that includes transaction fees and related expenses.
The buying spree followed a major capital raise completed just days before the acquisitions began. Strive issued seven million SATS preferred shares at a price of $90 each, generating approximately $630 million in gross proceeds before expenses.
The company stated in its filing that it intends to allocate the raised funds toward further bitcoin purchases as well as funding its ongoing business operations. Strive held $504.4 million in cash and cash equivalents on October 23, marking a sharp increase from the $317.5 million it reported one week earlier.
Treasury Expansion Strategy
Matt Cole, the chief executive of Strive, said that building digital currency reserves remains one of the investment firm's key priorities. Cole said he intends to lift Strive into second place among public corporate holders of bitcoin by the end of the year.
The latest acquisition builds on an earlier purchase in which Strive added 4,045 bitcoins to its reserves at a cost of $335 million. That transaction had brought the firm's total treasury to 36,818 coins before the latest round of buying.
Corporate Cryptocurrency Holdings
Public companies have increasingly turned to digital assets as corporate balance sheet reserves, seeking alternative vehicles for corporate cash management. Digital asset accumulation has gained traction among financial firms that treat the token as a long-term treasury reserve. Investment firms that hold significant cryptocurrency positions must file regular disclosures with the Securities and Exchange Commission to keep shareholders and market regulators informed of major capital deployments.
Preferred stock offerings allow companies to secure substantial funding from institutional markets while maintaining flexibility over corporate equity. With more than $504 million still held in cash and liquid equivalents following its share sale, Strive plans to direct additional capital into bitcoin purchases as it works toward its corporate ranking target by the end of the year.
