Strive (ASST) Is Now the Seventh Largest Corporate Bitcoin Holder After Just One Week of Buying
Strive, Inc. (NASDAQ: ASST ) is one of the top small cap stocks with huge growth potential . On May 26, Strive, Inc. (NASDAQ:ASST) disclosed via an SEC Form 8-K that it had acquired 1,109 Bitcoin between May 19 and May 22 at an average price of $76,989 per coin, including fees. T
Strive, Inc. (NASDAQ: ASST ) is one of the top small cap stocks with huge growth potential . On May 26, Strive, Inc. (NASDAQ:ASST) disclosed via an SEC Form 8-K that it had acquired 1,109 Bitcoin between May 19 and May 22 at an average price of $76,989 per coin, including fees. The new acquisition brings the company’s total Bitcoin treasury to 16,500 BTC and elevates it to seventh place among publicly listed corporate Bitcoin holders globally.
Strive said the May 19-22 purchase cost about $85.4 million and that the company funded the transaction using proceeds from its Variable Rate Series A Perpetual Preferred Stock. This is the company’s mechanism for raising capital to buy Bitcoin, and for that reason, Strive didn’t record any debt on its balance sheet.
As of the end of the transaction, May 22, Strive’s full treasury snapshot was $93.3 million in cash and cash equivalents, $50.1 million in Variable Rate Series A Perpetual Stretch Preferred Stock of Strategy Inc., and 16,500 BTC valued at approximately $1.27 billion, the filing shows.
Earlier in the month, on May 19, the company disclosed in another Form 8-K filing that it had bought nearly 382 BTC for $30.3 million between May 13 and May 18. Before that, and still in this May, the company had acquired 444 BTC for $33.9 million.
Strive, Inc. (NASDAQ:ASST) is a financial services and asset management company. It offers investment products focused on shareholder value maximization and corporate governance strategies.
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