Nasdaq-listed Strive said it has added another 1,223 Bitcoin to its corporate treasury, spending about $100 million on the latest purchase. The company said the coins were acquired at an average price of $81,734 each, lifting total holdings to 36,818 BTC.

The new buy extends a rapid accumulation streak for Strive. Based on a Bitcoin price of about $82,000, the company’s holdings would be worth roughly $3.02 billion, although that market value fluctuates with Bitcoin’s price and is separate from both the company’s total assets and the amount it originally spent to acquire the coins.

Latest purchase pushes holdings past 36,000 BTC

The latest transaction was disclosed by Strive CEO Matt Cole in an Oct. 19 announcement. According to the company, the purchase raised its Bitcoin treasury above the 36,000 BTC mark for the first time.

Strive said the 1,223 BTC acquisition cost approximately $100 million. Using the company’s stated average purchase price of $81,734 per coin, the deal adds another sizable tranche to a treasury strategy that has accelerated over recent days.

Three announced buys in eight days

Strive has now reported three Bitcoin purchase batches within an eight-day period. Taken together, those purchases added 7,356 BTC to the balance sheet.

That pace of buying increased the company’s Bitcoin position by roughly 25% over the period, based on the figures disclosed by the company. The latest purchase follows two other substantial acquisitions announced earlier in the month.

Treasury expansion coincides with financing activity

The company’s recent Bitcoin accumulation has taken place alongside new financing activity. Strive said it is preparing to settle a $630 million preferred stock offering.

It also said it has completed its traditional warrant exercise period. As its preferred stock obligations rise, the company intends to maintain an 18-month dividend reserve.

What comes next

For now, the next confirmed step is the planned settlement of the preferred stock offering that Strive has already outlined. The company’s recent disclosures show that treasury growth and financing plans are moving in parallel.

Whether the reported value of Strive’s Bitcoin holdings rises further will depend on the market price of Bitcoin. The company has confirmed the size of its treasury, but the dollar value attached to those holdings will continue to change with the market.

Source: crypto.news