Funding
Strive Buys Bitcoin for $100M in Preparing for $630M Preferred-Stock Offering
Nasdaq-listed asset manager Strive has added 1,223 Bitcoin (BTC) to its corporate treasury, spending approximately $100 million between October 14 and 16. The acquisition brings its holdings to 36,818 BTC, worth roughly $3 billion. Meanwhile, Strive is preparing to collect proceeds from a $630 million preferred-stock offering, potentially financing its next round of purchases. The company recently priced 7 million shares of its new 15% Series A perpetual preferred stock, SATS, at $90 apiece, targeting approximately $630 million in gross proceeds.