Strive and Strategy Disclose $513M Bitcoin Purchases and Cross-Holdings
Public bitcoin treasury companies Strive and Strategy executed simultaneous purchases funded by equity issuance, revealing narrow accretion margins and mutual preferred stock positions.
Strive purchased 1,800 BTC for approximately $143 million at an average of $79,431 per coin between August 24 and 28, raising its total holdings to 23,156 BTC. Strategy acquired 4,603 BTC for about $370 million at an average near $80,380 in the same week.
Strive funded its purchase by issuing 3,579,147 Class A shares and 803,099 SATA preferred shares. Its cash position rose from $171.9 million to $183.5 million despite the outlay. Bitcoin per effective common share increased 4.3 percent after the issuance.
Cross-holdings and accretion margins
The filing shows Strive holds 505,000 shares of Strategy's STRC preferred stock valued at $49.15 million. Exact future accretion depends on ongoing share issuance and bitcoin price path, while the scale of preferred stock dividend impact and indirect effects from cross-holdings remain unquantified beyond the disclosed period.