Strive said it added 3,311 Bitcoin in the week ending Oct. 9, lifting its total holdings to 32,773 BTC and placing the company among the largest public corporate holders of the asset.

The company disclosed in a filing with the US Securities and Exchange Commission that the purchases were made at an average price of about $84,500 per coin. Strive also said investors exercised $208 million in warrants during the period, helping fund the latest accumulation.

Weekly buying lifted reserves by more than 11%

According to the filing, Strive’s latest purchases increased its Bitcoin reserves by 11.2% over the week. That growth rate was higher than the 9.4% increase in the company’s effective common share count during the same period.

Strive presented that gap as significant because the company expanded its Bitcoin holdings faster than it diluted its share base. In practical terms, that meant its Bitcoin holdings per share increased even as additional equity was issued.

Company says it is now the fifth-largest public holder

After the latest purchases, Strive’s treasury stood at 32,773 BTC. Based on that total, the company said it had become the fifth-largest publicly traded corporate Bitcoin holder.

The buying was disclosed as part of Strive’s broader Bitcoin treasury strategy, which has centered on using public market tools to expand its exposure to the cryptocurrency.

Warrant exercises brought in fresh capital

Strive Chairman and Chief Executive Officer Matt Cole said investors exercised $208 million in warrants. The company linked that capital to the latest round of Bitcoin purchases.

Cole also noted that roughly 15.3 million warrants remained outstanding ahead of their Tuesday expiration. The filing did not add further detail in the extracted report on how many of those remaining warrants, if any, would ultimately be exercised.

Market reaction focused on treasury strategy

MicroStrategy Executive Chairman Michael Saylor praised Strive’s approach, saying the company’s use of capital markets illustrates how Bitcoin adoption is being accelerated.

That comment reflected growing attention on how listed companies are financing Bitcoin accumulation. For Strive, the next confirmed milestone is the expiration of the remaining warrants, which could determine whether additional capital becomes available for future purchases.

Source: cointelegraph.com