Strive Adds 72 Bitcoin to Treasury Following Warrant Exercises
Strive (ASST) expanded its bitcoin holdings with a new $8.26 million purchase funded through the exercise of previously issued warrants, according to a Tuesday filing with the U.S. Securities and Exchange Commission.
The company acquired approximately 72.3 BTC at an average price of $114,303 per token, bringing its total bitcoin treasury to about 5,958 BTC, accumulated for $691.3 million at an average cost of $116,032 per coin.
Strive said the purchase was financed through the exercise of roughly 6.11 million traditional warrants priced at $1.35 per share, generating gross proceeds of $8.26 million. The warrants were part of the 555.3 million issued under its $750 million private investment in public equity (PIPE) financing agreement.
Despite expanding its bitcoin reserves, Strive shares fell 13.5% in early Tuesday trading after having doubled over the previous two sessions.
