Strive's Bitcoin Stack Now Costs More Than Your Ex's Apologies — ASST Pops 6% 🍰

Strive, the Bitcoin treasury firm founded by Vivek Ramaswamy, disclosed the acquisition of an additional 1,355 BTC for $107.7 million, bringing its total holdings to 26,355 BTC, according to an announcement on September 21. The company said the coins were purchased at an average price of $79,475 per bitcoin between September 14 and 18.

The latest buy was funded through a combination of warrant exercises, SATA proceeds and at-the-market (ATM) offerings of ASST shares. Strive CEO Matt Cole stated, "Warrant exercises began last week, generating $21.2M in gross proceeds. Including those proceeds, 57.7% of total capital raised came from SATA proceeds."

The acquisition comes roughly a week after Strive purchased 469 BTC for $36.6 million at an average price of $77,954 per coin, a transaction that brought holdings to 25,000 BTC and brought the company's amplification ratio to 53.5%. In that earlier announcement, Cole noted that SATA then had over $1 billion in notional outstanding and that 100% of the capital raised for the purchase came from SATA.

ASST shares rose more than 6% on Monday to $32, extending a monthly rally of over 135%. Bitcoin's spot price and broader market conditions at the time of the most recent ASST trading session were not specified in the announcement.

Strive operates as a corporate Bitcoin treasury vehicle, accumulating BTC on its balance sheet alongside its SATA dividend-paying instrument and ASST equity listing. The company has not disclosed any changes to its reserve policy or treasury strategy beyond the figures cited in the September 21 release.