Strive added another 2,500 BTC to its reserves last week, right as Michael Saylor's Strategy announced its first Bitcoin sale in nearly four years.
According to 8-K filings released on Tuesday, Strive purchased this amount of BTC between May 23 and June 1, at an Medium price of $74,092 per BTC. The total value of the purchase was approximately $185.2 million, increasing its holdings from 16,500 BTC to 19,000 BTC.
The new deal helps Strive widen its lead over Coinbase and Riot Platforms – two companies that Strive surpassed last week. Strive is now the 7th largest publicly traded Bitcoin holder and is about 5,300 BTC behind Bullish, which is ranked 6th.
The filing also shows the company increased its cash and cash equivalents to $137.3 million (from $93.3 million), while retaining an investment of approximately $50 million in Strategy's STRC preferred stock.
Strive CEO Matt Cole stated that the cash increase aims to maintain an “18-month dividend reserve.” He also included updated metrics: Bitcoin yield since the beginning of the quarter is 23%, and YTD is 36.7%.
In the same week, Strategy – a leading Bitcoin holding company – sold 32 BTC for approximately $2.5 million. This was the first reported sale since late 2022. Strategy said the proceeds were used to pay dividends on its STRC perpetual preferred stock.
The article "Strive Accumulates Another 2,500 BTC While Saylor's Strategy Continues to Sell" first appeared on CoinMoi .
